ClearAlpha Technologies LP Raises Holdings in ChampionX Co. (NASDAQ:CHX)

ClearAlpha Technologies LP increased its stake in ChampionX Co. (NASDAQ:CHX) by 87.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 273,409 shares of the company’s stock after buying an additional 127,482 shares during the quarter. ChampionX comprises about 2.3% of ClearAlpha Technologies LP’s holdings, making the stock its 9th biggest position. ClearAlpha Technologies LP’s holdings in ChampionX were worth $8,243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHX. Blue Trust Inc. lifted its stake in shares of ChampionX by 442.4% in the 3rd 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 acquired a new stake in ChampionX in the second quarter worth approximately $68,000. UMB Bank n.a. boosted its stake in ChampionX by 63.7% during the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares in the last quarter. KBC Group NV increased its position in shares of ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after purchasing an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of ChampionX in the 2nd quarter worth $194,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Up 0.8 %

Shares of NASDAQ:CHX opened at $30.95 on Monday. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 19.22 and a beta of 2.38. ChampionX Co. has a 1-year low of $25.46 and a 1-year high of $39.95. The company has a 50 day moving average price of $30.54 and a 200 day moving average price of $31.44. 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 issued its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The company had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Announces Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

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.