Assetmark Inc. Has $1.50 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Assetmark Inc. lifted its holdings in ChampionX Co. (NASDAQ:CHX) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,748 shares of the company’s stock after purchasing an additional 4,058 shares during the period. Assetmark Inc.’s holdings in ChampionX were worth $1,500,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CHX. Legend Financial Advisors Inc. grew its holdings in ChampionX by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after purchasing an additional 340 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of ChampionX by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock worth $637,000 after buying an additional 487 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in ChampionX in the 1st quarter valued at $27,000. UMB Bank n.a. raised its holdings in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after acquiring an additional 882 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in ChampionX by 16.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after acquiring an additional 918 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Insider Activity at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.38% of the company’s stock.

ChampionX Stock Down 0.5 %

Shares of CHX stock opened at $30.88 on Friday. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.88 billion, a PE ratio of 19.18 and a beta of 2.38. The stock has a 50 day moving average of $30.18 and a 200-day moving average of $31.70.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, equities analysts predict that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Analyst Ratings Changes

Separately, Citigroup lowered their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday.

ChampionX Company Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.