ChampionX Co. (NASDAQ:CHX) Shares Bought by Narwhal Capital Management

Narwhal Capital Management increased its stake in ChampionX Co. (NASDAQ:CHX) by 17.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 197,138 shares of the company’s stock after purchasing an additional 29,966 shares during the quarter. Narwhal Capital Management’s holdings in ChampionX were worth $5,944,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in ChampionX during the 4th quarter worth $6,881,000. Vanguard Group Inc. increased its position in shares of ChampionX by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock worth $585,167,000 after acquiring an additional 62,967 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of ChampionX by 4.7% in the first quarter. Park Avenue Securities LLC now owns 36,659 shares of the company’s stock worth $1,316,000 after acquiring an additional 1,635 shares in the last quarter. Ballentine Partners LLC purchased a new position in ChampionX in the first quarter valued at about $202,000. Finally, Legend Financial Advisors Inc. grew its stake in ChampionX by 3.5% during the 1st quarter. Legend Financial Advisors Inc. now owns 21,132 shares of the company’s stock valued at $758,000 after purchasing an additional 720 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

ChampionX Stock Down 1.0 %

Shares of ChampionX stock opened at $29.57 on Wednesday. The business has a 50-day moving average price of $30.68 and a 200 day moving average price of $32.51. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The firm has a market cap of $5.63 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.27 and a beta of 2.37. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, July 24th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The company had revenue of $893.30 million for the quarter, compared to the consensus estimate of $954.91 million. During the same period last year, the company posted $0.48 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, October 4th. ChampionX’s dividend payout ratio is presently 20.65%.

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.