Chevy Chase Trust Holdings LLC Sells 408,468 Shares of ChampionX Co. (NASDAQ:CHX)

Chevy Chase Trust Holdings LLC lowered its position in ChampionX Co. (NASDAQ:CHX) by 53.0% in the 4th quarter, Holdings Channel reports. The fund owned 362,222 shares of the company’s stock after selling 408,468 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in ChampionX were worth $9,849,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CHX. Blue Trust Inc. increased its position in ChampionX by 442.4% during the 3rd 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 in the last quarter. R Squared Ltd bought a new position in ChampionX during the 4th quarter valued at approximately $103,000. KBC Group NV increased its position in ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares in the last quarter. Quantinno Capital Management LP bought a new position in ChampionX during the 3rd quarter valued at approximately $265,000. Finally, Coldstream Capital Management Inc. increased its position in ChampionX by 6.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after buying an additional 594 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

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

ChampionX Stock Down 1.0 %

ChampionX stock opened at $29.44 on Monday. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 17.84 and a beta of 2.35. The stock has a fifty day simple moving average of $28.43 and a two-hundred day simple moving average of $29.78. ChampionX Co. has a 12 month low of $25.57 and a 12 month high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.20 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last posted its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Equities analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 3rd were paid a $0.095 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.29%. ChampionX’s dividend payout ratio (DPR) is currently 23.03%.

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.