Oppenheimer Asset Management Inc. Reduces Stock Holdings in ChampionX Co. (NASDAQ:CHX)

Oppenheimer Asset Management Inc. lowered its position in ChampionX Co. (NASDAQ:CHX) by 28.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,471 shares of the company’s stock after selling 12,237 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ChampionX were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CHX. Calamos Advisors LLC increased its position in ChampionX by 470.4% during the 4th quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock worth $40,635,000 after purchasing an additional 1,232,500 shares in the last quarter. Westchester Capital Management LLC increased its position in ChampionX by 67.8% during the 3rd quarter. Westchester Capital Management LLC now owns 2,828,139 shares of the company’s stock worth $85,268,000 after purchasing an additional 1,142,628 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in ChampionX during the 3rd quarter worth about $15,075,000. Alpine Associates Management Inc. grew its holdings in ChampionX by 103.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 723,516 shares of the company’s stock valued at $21,814,000 after buying an additional 368,616 shares during the period. Finally, Barclays PLC grew its holdings in ChampionX by 147.2% in the 3rd quarter. Barclays PLC now owns 357,081 shares of the company’s stock valued at $10,766,000 after buying an additional 212,654 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price target on ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Stock Down 1.6 %

CHX opened at $27.98 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 16.96 and a beta of 2.35. The business has a 50-day moving average of $28.84 and a two-hundred day moving average of $29.63. ChampionX Co. has a 12 month low of $25.57 and a 12 month high of $39.95.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. On average, research analysts expect that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, April 4th. ChampionX’s dividend payout ratio is currently 23.03%.

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.