Alpine Associates Management Inc. Has $32.16 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Alpine Associates Management Inc. increased its position in shares of ChampionX Co. (NASDAQ:CHX) by 63.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,182,716 shares of the company’s stock after purchasing an additional 459,200 shares during the quarter. ChampionX makes up about 2.0% of Alpine Associates Management Inc.’s holdings, making the stock its 13th biggest position. Alpine Associates Management Inc. owned approximately 0.62% of ChampionX worth $32,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in shares of ChampionX by 153.2% in the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of ChampionX by 1,051.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd purchased a new stake in shares of ChampionX in the 4th quarter valued at $103,000. KBC Group NV raised its holdings in ChampionX by 18.3% during the 3rd 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 last quarter. Finally, Ieq Capital LLC bought a new stake in ChampionX during the 4th quarter valued at $228,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

ChampionX Stock Performance

CHX opened at $29.66 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 17.98 and a beta of 2.28. The company’s 50 day moving average is $28.97 and its 200 day moving average is $29.58. 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 (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. On average, equities research analysts predict that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s dividend payout ratio is currently 23.03%.

Analyst Upgrades and Downgrades

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

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.