State of Alaska Department of Revenue Acquires 1,500 Shares of ChampionX Co. (NASDAQ:CHX)

State of Alaska Department of Revenue raised its holdings in ChampionX Co. (NASDAQ:CHX) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,238 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. State of Alaska Department of Revenue’s holdings in ChampionX were worth $670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of ChampionX during the 1st quarter worth $27,000. Blue Trust Inc. raised its stake in ChampionX by 442.4% in the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in ChampionX in the second quarter valued at about $68,000. UMB Bank n.a. increased its holdings in shares of ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ChampionX in the first quarter valued at about $136,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Up 9.3 %

ChampionX stock opened at $31.43 on Thursday. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 19.53 and a beta of 2.38. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The business’s 50-day moving average price is $30.08 and its 200 day moving average price is $31.84. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.

ChampionX (NASDAQ:CHX) last posted 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 return on equity of 19.74% and a net margin of 8.59%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is 23.60%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th.

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.