Phocas Financial Corp. Reduces Position in ChampionX Co. (NASDAQ:CHX)

Phocas Financial Corp. reduced its position in shares of ChampionX Co. (NASDAQ:CHX) by 84.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,108 shares of the company’s stock after selling 169,068 shares during the period. Phocas Financial Corp.’s holdings in ChampionX were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of ChampionX by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after buying an additional 487 shares in the last quarter. Pacer Advisors Inc. lifted its position in ChampionX by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 28,394 shares of the company’s stock valued at $772,000 after acquiring an additional 532 shares during the last quarter. HighTower Advisors LLC boosted its stake in 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 acquiring an additional 564 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of ChampionX by 6.6% during the third quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock worth $290,000 after purchasing an additional 594 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. grew its stake in ChampionX by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 15,150 shares of the company’s stock worth $412,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $29.12 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $28.57 and a 200 day moving average price of $29.71. ChampionX Co. has a 52 week low of $25.57 and a 52 week high of $39.95. The company has a market cap of $5.56 billion, a P/E ratio of 17.65 and a beta of 2.35.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. Research analysts predict that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.30%. ChampionX’s dividend payout ratio (DPR) is presently 23.03%.

Analyst Upgrades and Downgrades

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

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.