Mount Yale Investment Advisors LLC Has $957,000 Position in ChampionX Co. (NASDAQ:CHX)

Mount Yale Investment Advisors LLC grew its stake in ChampionX Co. (NASDAQ:CHX) by 72.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,667 shares of the company’s stock after purchasing an additional 11,176 shares during the period. Mount Yale Investment Advisors LLC’s holdings in ChampionX were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in ChampionX during the 4th quarter worth approximately $26,000. Allspring Global Investments Holdings LLC bought a new position in ChampionX during the 1st quarter worth approximately $27,000. Rise Advisors LLC bought a new position in ChampionX during the 1st quarter worth approximately $35,000. Quadrant Capital Group LLC raised its holdings in ChampionX by 37.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock worth $89,000 after purchasing an additional 831 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in ChampionX during the 4th quarter worth approximately $91,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Trading Down 0.8 %

Shares of NASDAQ:CHX traded down $0.27 during mid-day trading on Tuesday, hitting $33.63. The company had a trading volume of 113,638 shares, compared to its average volume of 1,962,592. The firm has a fifty day moving average price of $32.68 and a 200 day moving average price of $32.49. The company has a market capitalization of $6.41 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.43 and a beta of 2.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.99 and a quick ratio of 1.25. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, research analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 5th were given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, July 5th. ChampionX’s payout ratio is currently 20.65%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Barclays raised their price target on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.