William Jr. O’dell Sells 27,178 Shares of ChampionX Co. (NASDAQ:CHX) Stock

ChampionX Co. (NASDAQ:CHX) insider William Jr. O’dell sold 27,178 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total transaction of $978,408.00. Following the completion of the sale, the insider now owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ChampionX Trading Up 1.2 %

NASDAQ:CHX traded up $0.44 during mid-day trading on Thursday, hitting $35.89. 1,908,865 shares of the company’s stock were exchanged, compared to its average volume of 1,455,283. The company has a 50 day simple moving average of $30.38 and a 200-day simple moving average of $31.01. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. ChampionX Co. has a fifty-two week low of $24.98 and a fifty-two week high of $38.37. The firm has a market capitalization of $6.85 billion, a P/E ratio of 22.58, a PEG ratio of 1.09 and a beta of 2.43.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $943.56 million during the quarter, compared to analyst estimates of $947.33 million. ChampionX had a net margin of 8.36% and a return on equity of 20.14%. ChampionX’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, research analysts expect that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, April 4th. ChampionX’s dividend payout ratio is presently 21.66%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky lifted its position in ChampionX by 91.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 68,526 shares of the company’s stock valued at $2,441,000 after buying an additional 32,657 shares during the period. Seven Eight Capital LP purchased a new position in ChampionX in the 3rd quarter worth about $250,000. Prudential PLC purchased a new position in ChampionX in the 3rd quarter worth about $788,000. Congress Asset Management Co. MA raised its position in ChampionX by 114.0% in the 3rd quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock worth $148,615,000 after buying an additional 2,222,224 shares during the last quarter. Finally, TD Asset Management Inc raised its position in ChampionX by 928.1% in the 3rd quarter. TD Asset Management Inc now owns 73,614 shares of the company’s stock worth $2,622,000 after buying an additional 66,454 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHX has been the subject of a number of recent analyst reports. Piper Sandler cut shares of ChampionX from an “overweight” rating to a “neutral” rating and cut their price target for the company from $38.00 to $32.00 in a research note on Monday, January 8th. Citigroup raised their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, ChampionX presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

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.