ChampionX Co. (NASDAQ:CHX) Insider Sells $1,482,048.18 in Stock

ChampionX Co. (NASDAQ:CHX) insider Deric D. Bryant sold 49,303 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ChampionX Stock Performance

Shares of ChampionX stock traded down $0.57 during trading hours on Thursday, reaching $30.86. The company had a trading volume of 1,340,383 shares, compared to its average volume of 1,873,211. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The business has a fifty day simple moving average of $30.09 and a 200 day simple moving average of $31.84. 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 firm has a market cap of $5.88 billion, a PE ratio of 19.52 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data 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 company had revenue of $906.53 million during the quarter, compared to the consensus estimate of $916.50 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current fiscal year.

ChampionX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were paid a dividend of $0.095 per share. The ex-dividend date was Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is currently 23.60%.

Institutional Trading of ChampionX

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in ChampionX in the first quarter worth $27,000. Blue Trust Inc. raised its holdings in ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after purchasing an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of ChampionX in the 2nd quarter worth about $68,000. UMB Bank n.a. boosted 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 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 shares of ChampionX during the first quarter valued at about $136,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their target price on ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, July 15th.

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.