GSA Capital Partners LLP Raises Position in ChampionX Co. (NASDAQ:CHX)

GSA Capital Partners LLP raised its position in ChampionX Co. (NASDAQ:CHX) by 143.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,985 shares of the company’s stock after buying an additional 21,778 shares during the period. GSA Capital Partners LLP’s holdings in ChampionX were worth $1,115,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHX. Millennium Management LLC increased its position in shares of ChampionX by 12,607.0% during the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock worth $103,643,000 after purchasing an additional 3,096,287 shares in the last quarter. Magnetar Financial LLC acquired a new stake in ChampionX during the 2nd quarter worth $72,860,000. Water Island Capital LLC purchased a new stake in shares of ChampionX during the second quarter worth $35,384,000. Squarepoint Ops LLC purchased a new stake in shares of ChampionX during the second quarter worth $21,669,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of ChampionX in the second quarter valued at about $20,677,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Stock Performance

NASDAQ CHX opened at $30.88 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The stock’s fifty day moving average is $30.18 and its two-hundred day moving average is $31.70. The firm has a market capitalization of $5.88 billion, a P/E ratio of 19.18 and a beta of 2.38. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings data 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). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million during the quarter, compared to analysts’ expectations of $916.50 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, October 4th. ChampionX’s dividend payout ratio is presently 23.60%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other ChampionX 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 transaction of $1,482,048.18. Following the completion of the transaction, the insider now owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.38% of the stock is owned by insiders.

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.