Bailard Inc. Makes New Investment in ChampionX Co. (NASDAQ:CHX)

Bailard Inc. purchased a new position in shares of ChampionX Co. (NASDAQ:CHX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,210 shares of the company’s stock, valued at approximately $685,000.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in shares of ChampionX by 1,051.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after acquiring an additional 1,725 shares in the last quarter. R Squared Ltd purchased a new stake in shares of ChampionX during the 4th quarter worth approximately $103,000. KBC Group NV boosted its stake in shares of ChampionX by 18.3% during the 3rd quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of ChampionX in the 4th quarter worth about $228,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of ChampionX in the 3rd quarter worth about $265,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

ChampionX stock opened at $28.44 on Tuesday. ChampionX Co. has a fifty-two week low of $25.57 and a fifty-two week high of $39.95. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.24 and a beta of 2.35. The stock has a fifty day moving average of $28.81 and a two-hundred day moving average of $29.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data 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 return on equity of 19.84% and a net margin of 8.81%. On average, analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s payout ratio is 23.03%.

Analysts Set New Price Targets

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