Pekin Hardy Strauss Inc. Sells 5,087 Shares of ChampionX Co. (NASDAQ:CHX)

Pekin Hardy Strauss Inc. trimmed its position in shares of ChampionX Co. (NASDAQ:CHX) by 6.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 79,403 shares of the company’s stock after selling 5,087 shares during the period. Pekin Hardy Strauss Inc.’s holdings in ChampionX were worth $2,394,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CHX. Blue Trust Inc. increased its stake in shares of ChampionX by 442.4% during 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 during the last quarter. DekaBank Deutsche Girozentrale bought a new position in ChampionX during the second quarter worth about $68,000. UMB Bank n.a. increased its position in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after buying an additional 882 shares during the last quarter. KBC Group NV raised its stake in ChampionX by 18.3% in 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 acquired a new stake in shares of ChampionX in the second quarter valued at approximately $194,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Stock Performance

Shares of CHX stock opened at $31.24 on Friday. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 19.40 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 Co. has a 52 week low of $25.46 and a 52 week high of $39.95. The company has a 50-day simple moving average of $30.46 and a 200 day simple moving average of $31.57.

ChampionX (NASDAQ:CHX) last posted its earnings results on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a net margin of 8.59% and a return on equity of 19.74%. ChampionX’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, sell-side analysts predict that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, January 3rd. ChampionX’s dividend payout ratio is currently 23.60%.

Insider Activity

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of ChampionX 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 completion of the sale, the insider now owns 337,409 shares in the company, valued at $10,142,514.54. The trade was a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased 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.

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.