Calamos Advisors LLC Purchases 1,232,500 Shares of ChampionX Co. (NASDAQ:CHX)

Calamos Advisors LLC boosted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 470.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,494,500 shares of the company’s stock after acquiring an additional 1,232,500 shares during the quarter. Calamos Advisors LLC owned approximately 0.78% of ChampionX worth $40,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CHX. Westchester Capital Management LLC raised its position in ChampionX by 67.8% during the third 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. Oddo BHF Asset Management Sas acquired a new position in shares of ChampionX in the third quarter valued at about $15,075,000. Alpine Associates Management Inc. increased its position in ChampionX by 103.9% during the third quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company’s stock worth $21,814,000 after acquiring an additional 368,616 shares during the period. Barclays PLC raised its position in shares of ChampionX by 147.2% in the third quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after buying an additional 212,654 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in ChampionX by 31.3% in the 3rd quarter. Citigroup Inc. now owns 862,580 shares of the company’s stock valued at $26,007,000 after acquiring an additional 205,439 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Insider Buying and Selling at ChampionX

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.38% of the company’s stock.

ChampionX Trading Down 0.4 %

Shares of CHX stock opened at $28.53 on Tuesday. The stock has a 50 day simple moving average of $28.63 and a two-hundred day simple moving average of $30.11. The company has a market cap of $5.43 billion, a P/E ratio of 17.72 and a beta of 2.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 3rd were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.38 annualized dividend and a yield of 1.33%. ChampionX’s payout ratio is 23.60%.

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.