ChampionX Co. (NASDAQ:CHX) Stock Holdings Increased by Westchester Capital Management LLC

Westchester Capital Management LLC lifted its holdings in ChampionX Co. (NASDAQ:CHX) by 67.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,828,139 shares of the company’s stock after purchasing an additional 1,142,628 shares during the quarter. ChampionX accounts for approximately 3.6% of Westchester Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Westchester Capital Management LLC owned 1.48% of ChampionX worth $85,268,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CHX. Blue Trust Inc. raised its position in ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of ChampionX during the second quarter valued at approximately $68,000. UMB Bank n.a. grew its stake in shares of ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after buying an additional 882 shares during the last quarter. KBC Group NV raised its holdings in shares of ChampionX by 18.3% in the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after buying an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of ChampionX during the 2nd quarter worth approximately $194,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Up 0.8 %

CHX stock opened at $30.95 on Friday. The company has a market capitalization of $5.90 billion, a PE ratio of 19.22 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The firm’s 50-day moving average is $30.53 and its 200 day moving average is $31.49.

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

ChampionX Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is 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.