US Bancorp DE Lowers Stake in ChampionX Co. (NASDAQ:CHX)

US Bancorp DE reduced its stake in shares of ChampionX Co. (NASDAQ:CHX) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,318 shares of the company’s stock after selling 2,387 shares during the quarter. US Bancorp DE owned approximately 0.05% of ChampionX worth $2,646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Calamos Advisors LLC lifted its stake in ChampionX by 470.4% in the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock worth $40,635,000 after acquiring an additional 1,232,500 shares during the period. Westchester Capital Management LLC lifted its stake in ChampionX by 67.8% in the third quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after acquiring an additional 1,142,628 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in ChampionX in the third quarter worth about $15,075,000. Alpine Associates Management Inc. lifted its stake in ChampionX by 103.9% in the third quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company’s stock worth $21,814,000 after acquiring an additional 368,616 shares during the period. Finally, Barclays PLC lifted its stake in ChampionX by 147.2% in the third quarter. Barclays PLC now owns 357,081 shares of the company’s stock worth $10,766,000 after acquiring an additional 212,654 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

ChampionX Stock Performance

Shares of ChampionX stock opened at $28.52 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 17.28 and a beta of 2.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The company has a 50-day simple moving average of $28.91 and a two-hundred day simple moving average of $29.61. ChampionX Co. has a one year low of $25.57 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last announced its earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. Research analysts expect that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.33%. ChampionX’s dividend payout ratio (DPR) is currently 23.03%.

Analyst Ratings Changes

Separately, Citigroup lowered their price objective on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a research note 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.