MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Sells 126,760 Shares of ChampionX Co. (NASDAQ:CHX)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income reduced its position in ChampionX Co. (NASDAQ:CHXGet Rating) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,520 shares of the company’s stock after selling 126,760 shares during the quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned approximately 0.18% of ChampionX worth $8,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CHX. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX in the fourth quarter worth approximately $1,318,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of ChampionX by 7.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 137,423 shares of the company’s stock worth $2,777,000 after buying an additional 9,763 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of ChampionX in the fourth quarter worth $2,158,000. Dupont Capital Management Corp lifted its holdings in shares of ChampionX by 169.9% in the fourth quarter. Dupont Capital Management Corp now owns 8,098 shares of the company’s stock worth $164,000 after buying an additional 5,098 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of ChampionX in the fourth quarter worth $1,540,000. 96.89% of the stock is currently owned by institutional investors.

ChampionX Stock Performance

CHX traded up $0.23 during trading on Friday, reaching $20.72. 1,258,920 shares of the company’s stock were exchanged, compared to its average volume of 1,861,823. The stock has a market capitalization of $4.20 billion, a P/E ratio of 26.23 and a beta of 2.68. ChampionX Co. has a 1 year low of $16.64 and a 1 year high of $28.08. The company’s fifty day simple moving average is $20.90 and its 200-day simple moving average is $22.26. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.15.

ChampionX (NASDAQ:CHXGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. ChampionX had a net margin of 4.78% and a return on equity of 10.79%. During the same period in the previous year, the company posted $0.11 EPS. As a group, research analysts predict that ChampionX Co. will post 1.21 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 1st were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, June 30th. ChampionX’s dividend payout ratio (DPR) is 37.98%.

Analysts Set New Price Targets

CHX has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of ChampionX from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Barclays increased their target price on shares of ChampionX from $33.00 to $38.00 in a research note on Monday, May 2nd. Bank of America raised shares of ChampionX from a “neutral” rating to a “buy” rating and reduced their target price for the company from $25.00 to $22.00 in a research note on Friday, July 15th. Finally, Piper Sandler raised shares of ChampionX from a “neutral” rating to an “overweight” rating and increased their target price for the company from $28.00 to $30.00 in a research note on Monday, April 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.75.

ChampionX Profile

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ChampionX Corporation provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. The company's Production Chemical Technologies segment offers onshore and offshore chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion breakers, and biocides to oil and natural gas production and midstream markets to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and water-related issues.

Further Reading

Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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