ChampionX Co. (NASDAQ:CHX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 5.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,708 shares of the company’s stock after selling 2,385 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ChampionX were worth $1,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of ChampionX in the 1st quarter valued at about $27,000. Blue Trust Inc. boosted 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 acquiring an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of ChampionX during the second quarter valued at approximately $68,000. UMB Bank n.a. raised its position in shares of ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of ChampionX in the 2nd quarter worth approximately $194,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

ChampionX Trading Down 0.8 %

Shares of CHX stock opened at $30.64 on Monday. The firm has a market capitalization of $5.84 billion, a PE ratio of 19.03 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The stock has a fifty day moving average of $30.21 and a two-hundred day moving average of $31.65.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, research analysts expect that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

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.