Barclays PLC Buys 212,654 Shares of ChampionX Co. (NASDAQ:CHX)

Barclays PLC raised its stake in shares of ChampionX Co. (NASDAQ:CHX) by 147.2% in the 3rd quarter, Holdings Channel reports. The firm owned 357,081 shares of the company’s stock after acquiring an additional 212,654 shares during the period. Barclays PLC’s holdings in ChampionX were worth $10,766,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. grew its holdings in ChampionX by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 21,472 shares of the company’s stock valued at $713,000 after buying an additional 340 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of ChampionX by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after acquiring an additional 487 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of ChampionX by 4.3% in the third quarter. HighTower Advisors LLC now owns 13,621 shares of the company’s stock valued at $405,000 after purchasing an additional 564 shares in the last quarter. PNC Financial Services Group Inc. increased its position in ChampionX by 1.4% in the third quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock worth $1,642,000 after purchasing an additional 772 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares in the last quarter. 98.99% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now directly owns 337,409 shares of the company’s stock, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.38% of the company’s stock.

Analysts Set New Price Targets

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

ChampionX Price Performance

Shares of ChampionX stock opened at $28.34 on Tuesday. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 17.60 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.20 and a current ratio of 1.94. The stock has a 50 day moving average price of $30.17 and a 200-day moving average price of $31.13. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $906.53 million for the quarter, compared to analysts’ expectations of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities analysts expect that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.34%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

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.