Truist Financial Corp raised its stake in ChampionX Co. (NASDAQ:CHX – Get Rating) by 7.3% during the first quarter, HoldingsChannel.com reports. The fund owned 36,577 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Truist Financial Corp’s holdings in ChampionX were worth $896,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. State Street Corp grew its holdings in shares of ChampionX by 1.4% in the fourth quarter. State Street Corp now owns 6,448,155 shares of the company’s stock valued at $130,317,000 after purchasing an additional 87,577 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of ChampionX by 23.6% in the 4th quarter. American Century Companies Inc. now owns 5,065,851 shares of the company’s stock worth $102,381,000 after buying an additional 968,800 shares during the last quarter. Gates Capital Management Inc. raised its position in shares of ChampionX by 4.5% during the 4th quarter. Gates Capital Management Inc. now owns 4,886,728 shares of the company’s stock valued at $98,761,000 after buying an additional 209,269 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of ChampionX by 30.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,095,028 shares of the company’s stock valued at $82,760,000 after acquiring an additional 946,759 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in ChampionX by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,595,776 shares of the company’s stock worth $72,670,000 after acquiring an additional 120,767 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Barclays upped their price objective on ChampionX from $33.00 to $38.00 in a research report on Monday, May 2nd. The Goldman Sachs Group dropped their price objective on shares of ChampionX from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. 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. Finally, Bank of America raised shares of ChampionX from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $25.00 to $22.00 in a research note on Friday, July 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.75.
ChampionX Stock Performance
CHX stock opened at $19.41 on Friday. ChampionX Co. has a twelve month low of $16.64 and a twelve month high of $28.08. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 28.13 and a beta of 2.79. The business’s fifty day simple moving average is $21.19 and its two-hundred day simple moving average is $22.46. The company has a quick ratio of 1.09, a current ratio of 1.85 and a debt-to-equity ratio of 0.39.
ChampionX (NASDAQ:CHX – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $865.96 million for the quarter, compared to the consensus estimate of $833.75 million. ChampionX had a net margin of 4.43% and a return on equity of 8.92%. During the same quarter last year, the firm posted $0.08 EPS. Analysts predict that ChampionX Co. will post 1.18 earnings per share for the current year.
ChampionX Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 1st will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.55%. ChampionX’s payout ratio is 43.48%.
ChampionX Company Profile
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.
See Also
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Source: defenseworld.net
