Benjamin Edwards Inc. Grows Stake in ChampionX Co. (NASDAQ:CHX)

Benjamin Edwards Inc. lifted its stake in ChampionX Co. (NASDAQ:CHX) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,298 shares of the company’s stock after buying an additional 927 shares during the period. Benjamin Edwards Inc.’s holdings in ChampionX were worth $213,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CHX. GAMMA Investing LLC purchased a new position in ChampionX in the 4th quarter valued at about $26,000. Parkside Financial Bank & Trust raised its position in shares of ChampionX by 19.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after purchasing an additional 352 shares in the last quarter. Mendota Financial Group LLC purchased a new position in shares of ChampionX during the 4th quarter valued at approximately $114,000. SG Americas Securities LLC grew its position in shares of ChampionX by 16.9% during the third quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock worth $160,000 after buying an additional 649 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in shares of ChampionX in the third quarter worth $201,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CHX shares. Barclays raised their price objective on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler boosted their price objective on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup increased their target price on ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ChampionX has an average rating of “Moderate Buy” and a consensus target price of $40.33.

ChampionX Stock Performance

NASDAQ:CHX traded up $0.05 during midday trading on Friday, reaching $33.60. 1,579,721 shares of the company traded hands, compared to its average volume of 2,654,074. ChampionX Co. has a twelve month low of $24.98 and a twelve month high of $39.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. The company has a fifty day moving average price of $34.59 and a 200 day moving average price of $31.18. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 1.06 and a beta of 2.45.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, analysts expect that ChampionX Co. will post 1.95 EPS for the current fiscal year.

ChampionX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. ChampionX’s payout ratio is 20.65%.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.00, for a total transaction of $978,408.00. Following the transaction, the insider now directly owns 57,748 shares of the company’s stock, valued at $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.38% of the company’s stock.

About ChampionX

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.