Insider Selling: ChampionX Co. (NASDAQ:CHX) Insider Sells $1,482,048.18 in Stock

ChampionX Co. (NASDAQ:CHX) insider Deric D. Bryant sold 49,303 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ChampionX Price Performance

Shares of CHX stock opened at $30.79 on Friday. The firm has a market cap of $5.87 billion, a P/E ratio of 19.12 and a beta of 2.38. The firm has a fifty day moving average of $30.07 and a two-hundred day moving average of $31.78. 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 1-year low of $25.46 and a 1-year high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data 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 firm had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th.

Hedge Funds Weigh In On ChampionX

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of ChampionX in the 1st quarter worth about $27,000. Blue Trust Inc. raised its stake in ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after acquiring an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale bought a new position in ChampionX in the second quarter worth about $68,000. UMB Bank n.a. boosted its stake in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of ChampionX during the first quarter valued at approximately $136,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

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.