Soros Fund Management LLC Sells 1,667,062 Shares of ChampionX Co. (NASDAQ:CHX)

Soros Fund Management LLC reduced its holdings in ChampionX Co. (NASDAQ:CHX) by 67.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 797,848 shares of the company’s stock after selling 1,667,062 shares during the quarter. Soros Fund Management LLC’s holdings in ChampionX were worth $24,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHX. Point72 DIFC Ltd purchased a new stake in shares of ChampionX in the 2nd quarter worth about $623,000. Quest Partners LLC increased its stake in shares of ChampionX by 86.8% during the third quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock valued at $2,083,000 after purchasing an additional 32,103 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of ChampionX during the second quarter valued at approximately $20,677,000. New York State Teachers Retirement System boosted its position in shares of ChampionX by 8.1% in the 2nd quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock worth $7,690,000 after purchasing an additional 17,259 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of ChampionX in the 2nd quarter worth approximately $1,475,000. Institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the sale, the insider now owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is currently owned by company insiders.

ChampionX Stock Performance

Shares of CHX opened at $29.73 on Friday. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The firm has a market capitalization of $5.66 billion, a P/E ratio of 18.47 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The business has a fifty day moving average of $30.53 and a 200 day moving average of $31.37.

ChampionX (NASDAQ:CHX) last announced its quarterly 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). The company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is 23.60%.

Analyst Ratings Changes

Separately, Citigroup dropped their target price on ChampionX from $45.00 to $40.00 and set a “buy” rating on the stock in a report 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.