State of Alaska Department of Revenue grew its holdings in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,229 shares of the company's stock after purchasing an additional 800 shares during the period. State of Alaska Department of Revenue's holdings in ChampionX were worth $580,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of ChampionX by 0.5% in the 1st quarter. BlackRock Inc. now owns 24,501,257 shares of the company's stock worth $599,791,000 after acquiring an additional 126,529 shares during the period. Vanguard Group Inc. increased its holdings in shares of ChampionX by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 19,915,020 shares of the company's stock worth $487,520,000 after acquiring an additional 132,397 shares during the period. Van ECK Associates Corp increased its holdings in shares of ChampionX by 35.6% in the 1st quarter. Van ECK Associates Corp now owns 7,873,500 shares of the company's stock worth $192,743,000 after acquiring an additional 2,065,566 shares during the period. State Street Corp increased its holdings in shares of ChampionX by 9.4% in the 1st quarter. State Street Corp now owns 7,054,490 shares of the company's stock worth $172,694,000 after acquiring an additional 606,335 shares during the period. Finally, Gates Capital Management Inc. increased its holdings in shares of ChampionX by 36.1% in the 1st quarter. Gates Capital Management Inc. now owns 6,653,209 shares of the company's stock worth $162,871,000 after acquiring an additional 1,766,481 shares during the period. 98.74% of the stock is owned by institutional investors and hedge funds.
Get ChampionX alerts:ChampionX Stock Performance
NASDAQ:CHX opened at $19.57 on Friday. ChampionX Co. has a twelve month low of $16.64 and a twelve month high of $28.08. The company has a current ratio of 1.95, a quick ratio of 1.15 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $21.20 and a 200-day moving average of $21.86. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 0.34 and a beta of 2.62.
ChampionX (NASDAQ:CHX – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. ChampionX had a net margin of 4.78% and a return on equity of 10.79%. The company had revenue of $932.57 million during the quarter, compared to analyst estimates of $897.30 million. During the same quarter last year, the firm posted $0.11 EPS. Analysts forecast that ChampionX Co. will post 1.21 earnings per share for the current fiscal year.ChampionX Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.53%. ChampionX's dividend payout ratio (DPR) is 37.98%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CHX shares. The Goldman Sachs Group dropped their price objective on shares of ChampionX from $26.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, July 13th. Benchmark initiated coverage on shares of ChampionX in a research report on Wednesday, August 24th. They issued a "buy" rating and a $32.00 target price for the company. Finally, Bank of America upgraded shares of ChampionX from a "neutral" rating to a "buy" rating and decreased their target price for the company from $25.00 to $22.00 in a research report on Friday, July 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.60.
ChampionX Company Profile
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ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.
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