Cerity Partners LLC Has $4.58 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Cerity Partners LLC raised its position in shares of ChampionX Co. (NASDAQ:CHX) by 291.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 152,038 shares of the company’s stock after purchasing an additional 113,232 shares during the quarter. Cerity Partners LLC owned approximately 0.08% of ChampionX worth $4,584,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after buying an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX during the 2nd quarter worth about $68,000. UMB Bank n.a. raised its position in shares of 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 in the last quarter. KBC Group NV lifted its stake in shares of ChampionX by 18.3% in the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of ChampionX during the 2nd quarter valued at about $194,000. Institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Trading Up 0.5 %

CHX opened at $30.70 on Friday. The company has a fifty day moving average price of $30.53 and a two-hundred day moving average price of $31.49. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a market cap of $5.85 billion, a P/E ratio of 19.07 and a beta of 2.38. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33.

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

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is currently 23.60%.

Insider Buying and Selling at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction 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. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.38% of the stock is currently owned by company insiders.

ChampionX 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.