Leeward Investments LLC MA Sells 14,984 Shares of ChampionX Co. (NASDAQ:CHX)

Leeward Investments LLC MA reduced its holdings in ChampionX Co. (NASDAQ:CHX) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 892,731 shares of the company’s stock after selling 14,984 shares during the period. ChampionX accounts for about 1.2% of Leeward Investments LLC MA’s portfolio, making the stock its 10th largest holding. Leeward Investments LLC MA’s holdings in ChampionX were worth $26,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after acquiring an additional 1,193,122 shares during the period. Congress Asset Management Co. MA grew its position in shares of ChampionX by 114.0% in the 3rd quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock valued at $148,615,000 after acquiring an additional 2,222,224 shares during the period. Invesco Ltd. grew its position in shares of ChampionX by 5.3% in the 3rd quarter. Invesco Ltd. now owns 3,121,545 shares of the company’s stock valued at $111,189,000 after acquiring an additional 157,788 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ChampionX by 28.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock valued at $86,429,000 after acquiring an additional 538,555 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of ChampionX by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,598,635 shares of the company’s stock worth $46,696,000 after buying an additional 24,854 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CHX. Citigroup lifted their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Piper Sandler lifted their target price on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Barclays lifted their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Stock Performance

NASDAQ CHX opened at $34.86 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $6.66 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.11 and a beta of 2.44. ChampionX Co. has a 12-month low of $24.98 and a 12-month high of $39.95. The firm has a 50-day moving average price of $34.26 and a two-hundred day moving average price of $31.18.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were given a $0.095 dividend. The ex-dividend date was Thursday, April 4th. This is a boost from ChampionX’s previous quarterly dividend of $0.09. This represents a $0.38 annualized dividend and a dividend yield of 1.09%. ChampionX’s payout ratio is presently 20.65%.

Insider Activity

In other news, insider William Jr. O’dell sold 27,178 shares of the business’s 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 transaction, the insider now directly owns 57,748 shares in the company, valued at approximately $2,078,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.38% of the company’s stock.

ChampionX 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.