Aigen Investment Management LP Boosts Stake in ChampionX Co. (NASDAQ:CHX)

Aigen Investment Management LP grew its stake in shares of ChampionX Co. (NASDAQ:CHX) by 467.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,057 shares of the company’s stock after buying an additional 32,992 shares during the quarter. Aigen Investment Management LP’s holdings in ChampionX were worth $1,089,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp raised its position in ChampionX by 1.7% in the 3rd quarter. State Street Corp now owns 7,422,097 shares of the company’s stock worth $223,776,000 after purchasing an additional 122,622 shares during the period. Geode Capital Management LLC raised its position in ChampionX by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,617,387 shares of the company’s stock worth $139,239,000 after purchasing an additional 63,119 shares during the period. Westchester Capital Management LLC raised its position in ChampionX by 67.8% in 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 during the period. Charles Schwab Investment Management Inc. raised its position in ChampionX by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,679,414 shares of the company’s stock worth $72,853,000 after purchasing an additional 56,283 shares during the period. Finally, Van ECK Associates Corp raised its position in ChampionX by 0.3% in the 4th quarter. Van ECK Associates Corp now owns 2,639,352 shares of the company’s stock worth $71,764,000 after purchasing an additional 9,056 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their target price 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.

ChampionX Price Performance

CHX stock opened at $28.26 on Thursday. The firm’s 50-day moving average price is $28.87 and its two-hundred day moving average price is $29.62. ChampionX Co. has a 12-month low of $25.57 and a 12-month high of $39.95. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 17.13 and a beta of 2.28. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates of $0.47 by $0.03. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. As a group, equities analysts predict that ChampionX Co. will post 1.92 earnings per share 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 1.34%. The ex-dividend date of this dividend is Friday, April 4th. ChampionX’s payout ratio is 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.