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

Narwhal Capital Management grew its holdings in ChampionX Co. (NASDAQ:CHX) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,172 shares of the company’s stock after acquiring an additional 2,723 shares during the period. Narwhal Capital Management owned about 0.09% of ChampionX worth $5,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CHX. Allspring Global Investments Holdings LLC acquired a new position in ChampionX during the 1st quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of ChampionX during the first quarter worth approximately $35,000. Quadrant Capital Group LLC raised its holdings in ChampionX by 37.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after acquiring an additional 831 shares in the last quarter. Principal Securities Inc. purchased a new position in ChampionX in the fourth quarter worth approximately $91,000. Finally, YHB Investment Advisors Inc. acquired a new position in ChampionX during the 1st quarter worth approximately $134,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

CHX stock opened at $28.86 on Friday. The business has a 50 day moving average price of $32.23 and a 200 day moving average price of $33.11. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.25 and a beta of 2.37. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The company had revenue of $893.30 million for the quarter, compared to analyst estimates of $954.91 million. During the same period in the previous year, the business posted $0.48 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a yield of 1.32%. ChampionX’s dividend payout ratio is presently 20.65%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

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.