Alliancebernstein L.P. Sells 314,494 Shares of ChampionX Co. (NASDAQ:CHX)

Alliancebernstein L.P. lessened its stake in shares of ChampionX Co. (NASDAQ:CHX) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,701,390 shares of the company’s stock after selling 314,494 shares during the quarter. Alliancebernstein L.P. owned about 0.89% of ChampionX worth $46,261,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after acquiring an additional 559 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after purchasing an additional 1,725 shares during the period. R Squared Ltd bought a new position in shares of ChampionX in the 4th quarter worth $103,000. Vestcor Inc grew its position in ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock valued at $137,000 after purchasing an additional 2,100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in ChampionX by 82,557.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock valued at $157,000 after purchasing an additional 5,779 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Stock Down 11.9 %

ChampionX stock opened at $24.35 on Friday. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.76 and a beta of 2.28. The firm’s fifty day moving average price is $29.24 and its two-hundred day moving average price is $29.47. ChampionX Co. has a 1-year low of $23.66 and a 1-year high of $39.95. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts predict that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s payout ratio is currently 23.03%.

ChampionX Company 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.