ChampionX Co. (NASDAQ:CHX) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in ChampionX Co. (NASDAQ:CHX) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,313 shares of the company’s stock after selling 28,248 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.35% of ChampionX worth $20,029,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CHX. Millennium Management LLC lifted its holdings 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 worth $103,643,000 after purchasing an additional 3,096,287 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ChampionX by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,623,131 shares of the company’s stock worth $79,087,000 after buying an additional 84,875 shares during the period. Magnetar Financial LLC bought a new stake in ChampionX in the second quarter valued at $72,860,000. Fiera Capital Corp boosted its holdings in shares of ChampionX by 1.2% during the second quarter. Fiera Capital Corp now owns 1,299,611 shares of the company’s stock valued at $43,160,000 after acquiring an additional 15,326 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of ChampionX by 4.6% during the third quarter. Westfield Capital Management Co. LP now owns 1,133,863 shares of the company’s stock worth $34,186,000 after acquiring an additional 50,120 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Down 1.2 %

Shares of CHX stock opened at $30.54 on Wednesday. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The firm has a market capitalization of $5.82 billion, a PE ratio of 18.97 and a beta of 2.38. The stock has a fifty day moving average of $30.50 and a two-hundred day moving average of $31.53. 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 (NASDAQ:CHX) last posted 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). The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. As a group, research analysts expect that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.24%. ChampionX’s dividend payout ratio is presently 23.60%.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price objective on shares of 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

In other news, 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 transaction of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.38% of the stock is owned by corporate insiders.

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.