ChampionX Co. (NASDAQ:CHX) Stock Holdings Boosted by Slotnik Capital LLC

Slotnik Capital LLC boosted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 580,696 shares of the company’s stock after purchasing an additional 50,362 shares during the period. ChampionX makes up approximately 5.9% of Slotnik Capital LLC’s portfolio, making the stock its 8th biggest holding. Slotnik Capital LLC’s holdings in ChampionX were worth $17,508,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of ChampionX by 12,607.0% in the 2nd quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock valued at $103,643,000 after acquiring an additional 3,096,287 shares during the period. Magnetar Financial LLC acquired a new position in ChampionX during the 2nd quarter worth $72,860,000. Westchester Capital Management LLC grew its holdings in ChampionX by 67.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after acquiring an additional 1,142,628 shares in the last quarter. Water Island Capital LLC acquired a new position in ChampionX during the 2nd quarter worth $35,384,000. Finally, Squarepoint Ops LLC acquired a new position in ChampionX during the 2nd quarter worth $21,669,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of CHX stock opened at $30.95 on Friday. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The firm has a fifty day moving average of $30.53 and a two-hundred day moving average of $31.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The firm has a market cap of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, research analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio (DPR) is currently 23.60%.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Insider Transactions at ChampionX

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.38% of the stock is currently owned by insiders.

ChampionX 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.