ChampionX (NASDAQ:CHX) Sees Unusually-High Trading Volume After Dividend Announcement

ChampionX Co. (NASDAQ:CHX) shares saw an uptick in trading volume on Thursday following a dividend announcement from the company. 3,355,293 shares traded hands during trading, an increase of 2% from the previous session’s volume of 3,285,459 shares.The stock last traded at $29.88 and had previously closed at $30.37.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio (DPR) is 23.03%.

ChampionX Trading Down 1.6 %

The company has a market cap of $5.70 billion, a price-to-earnings ratio of 18.11 and a beta of 2.28. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $29.45 and its two-hundred day simple moving average is $29.46.

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

Hedge Funds Weigh In On ChampionX

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of ChampionX by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock worth $542,830,000 after purchasing an additional 227,627 shares during the period. State Street Corp raised its holdings in ChampionX by 1.7% during the third quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after purchasing an additional 122,622 shares in the last quarter. Geode Capital Management LLC increased its position in ChampionX by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock worth $139,239,000 after purchasing an additional 63,119 shares during the period. Westchester Capital Management LLC boosted its stake in shares of ChampionX by 14.7% in the fourth quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company’s stock valued at $88,181,000 after buying an additional 414,995 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in ChampionX by 10.9% during the fourth quarter. Northern Trust Corp now owns 2,917,978 shares of the company’s stock worth $79,340,000 after acquiring an additional 286,853 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

About ChampionX

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.