Headlands Technologies LLC Invests $2.14 Million in ChampionX Co. (NASDAQ:CHX)

Headlands Technologies LLC bought a new stake in ChampionX Co. (NASDAQ:CHX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 64,436 shares of the company’s stock, valued at approximately $2,140,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of ChampionX in the 1st quarter worth about $27,000. Rise Advisors LLC purchased a new stake in ChampionX during the first quarter valued at approximately $35,000. Quadrant Capital Group LLC lifted its stake in shares of ChampionX by 37.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,041 shares of the company’s stock valued at $89,000 after purchasing an additional 831 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of ChampionX in the 4th quarter worth approximately $91,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of ChampionX during the 1st quarter valued at approximately $134,000. Institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of ChampionX from $40.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

ChampionX Trading Down 2.1 %

Shares of NASDAQ CHX opened at $28.20 on Wednesday. ChampionX Co. has a fifty-two week low of $25.46 and a fifty-two week high of $39.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.25 and a current ratio of 1.99. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.16 and a beta of 2.37. The business’s 50 day moving average price is $32.05 and its 200-day moving average price is $33.12.

ChampionX (NASDAQ:CHX) last released its earnings results on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The business had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $954.91 million. ChampionX had a return on equity of 19.72% and a net margin of 8.66%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, sell-side analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.095 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.38 dividend on an annualized basis and a yield of 1.35%. ChampionX’s dividend payout ratio is currently 20.65%.

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.