Holocene Advisors LP Acquires Shares of 14,721 ChampionX Co. (NASDAQ:CHX)

Holocene Advisors LP bought a new position in ChampionX Co. (NASDAQ:CHX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,721 shares of the company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in ChampionX by 442.4% during the third quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after acquiring an additional 1,084 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of ChampionX during the 2nd quarter valued at $68,000. UMB Bank n.a. raised its stake in shares of ChampionX by 63.7% during the 3rd 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 grew its position in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock valued at $176,000 after buying an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in ChampionX during the second quarter worth about $194,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Deric D. Bryant sold 49,303 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.38% of the company’s stock.

ChampionX Stock Down 2.9 %

CHX stock opened at $28.88 on Friday. The stock has a fifty day moving average of $30.50 and a 200-day moving average of $31.30. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 17.94 and a beta of 2.38. 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 (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The business had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same quarter in the previous year, the business earned $0.41 EPS. ChampionX’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.32%. ChampionX’s payout ratio is 23.60%.

Analysts Set New Price Targets

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

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.