68,655 Shares in ChampionX Co. (NASDAQ:CHX) Bought by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda acquired a new position in ChampionX Co. (NASDAQ:CHX) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 68,655 shares of the company’s stock, valued at approximately $2,070,000. ChampionX comprises 0.5% of Kapitalo Investimentos Ltda’s portfolio, making the stock its 25th biggest holding.

Several other large investors also recently modified their holdings of CHX. Allspring Global Investments Holdings LLC purchased a new position in ChampionX during the first quarter valued at $27,000. Rise Advisors LLC purchased a new position in ChampionX during the first quarter valued at $35,000. DekaBank Deutsche Girozentrale purchased a new position in ChampionX during the second quarter valued at $68,000. UMB Bank n.a. lifted its position in ChampionX by 63.7% during the third 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. Finally, Central Pacific Bank Trust Division purchased a new position in ChampionX during the first quarter valued at $136,000. Institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of ChampionX stock opened at $30.63 on Wednesday. ChampionX Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $30.70 and its 200-day simple moving average is $32.73. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.27 and a beta of 2.37.

ChampionX (NASDAQ:CHX) last issued its earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.11). ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The firm had revenue of $893.30 million during the quarter, compared to the consensus estimate of $954.91 million. During the same period last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts expect that ChampionX Co. will post 1.99 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio (DPR) is 20.65%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.