William Jr. O’dell Sells 27,178 Shares of ChampionX Co. (NASDAQ:CHX) Stock

ChampionX Co. (NASDAQ:CHX) insider William Jr. O’dell sold 27,178 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the completion of the sale, the insider now directly owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ChampionX Price Performance

Shares of NASDAQ:CHX traded up $0.44 during trading on Thursday, hitting $35.89. 1,908,865 shares of the stock were exchanged, compared to its average volume of 1,455,283. The company has a fifty day moving average price of $30.38 and a two-hundred day moving average price of $31.01. The company has a market cap of $6.85 billion, a PE ratio of 22.58, a P/E/G ratio of 1.09 and a beta of 2.43. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $38.37.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $943.56 million for the quarter, compared to analyst estimates of $947.33 million. ChampionX had a return on equity of 20.14% and a net margin of 8.36%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts forecast that ChampionX Co. will post 1.95 EPS for the current year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th 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 1.06%. This is an increase from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, April 4th. ChampionX’s dividend payout ratio is presently 21.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHX. Piper Sandler lowered ChampionX from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $32.00 in a research report on Monday, January 8th. Citigroup raised their price target on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Institutional Trading of ChampionX

A number of institutional investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC acquired a new stake in ChampionX during the fourth quarter worth about $277,000. Vanguard Group Inc. increased its stake in shares of ChampionX by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,033,091 shares of the company’s stock valued at $585,167,000 after acquiring an additional 62,967 shares during the period. Fisher Asset Management LLC increased its stake in shares of ChampionX by 7.2% during the fourth quarter. Fisher Asset Management LLC now owns 365,798 shares of the company’s stock valued at $10,685,000 after acquiring an additional 24,662 shares during the period. Wellington Management Group LLP acquired a new position in shares of ChampionX during the fourth quarter valued at approximately $6,881,000. Finally, Aurora Investment Counsel acquired a new position in ChampionX in the fourth quarter worth approximately $1,451,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

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.