Pekin Hardy Strauss Inc. Has $2.39 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Pekin Hardy Strauss Inc. cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,403 shares of the company’s stock after selling 5,087 shares during the period. Pekin Hardy Strauss Inc.’s holdings in ChampionX were worth $2,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased 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 valued at $44,000 after acquiring an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in ChampionX in the second quarter valued at approximately $68,000. UMB Bank n.a. raised its holdings in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after purchasing an additional 882 shares during the period. KBC Group NV boosted its position in shares of ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after purchasing an additional 903 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of ChampionX in the 2nd quarter valued at $194,000. Institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

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

ChampionX Stock Performance

Shares of CHX stock opened at $31.24 on Friday. 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 Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The company’s 50 day moving average price is $30.46 and its two-hundred day moving average price is $31.57. The company has a market capitalization of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $906.53 million for 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 company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, analysts expect that ChampionX Co. will post 1.66 earnings per share for the current fiscal 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 dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.22%. ChampionX’s payout ratio is presently 23.60%.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of ChampionX stock in a transaction on 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 directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.38% of the stock is owned by corporate 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.