ChampionX Co. (NASDAQ:CHX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in ChampionX Co. (NASDAQ:CHX) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,178 shares of the company’s stock after selling 4,119 shares during the period. MetLife Investment Management LLC’s holdings in ChampionX were worth $6,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of ChampionX during the second quarter worth $623,000. Quest Partners LLC raised its holdings in ChampionX by 86.8% during the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after buying an additional 32,103 shares during the period. Renaissance Technologies LLC purchased a new stake in ChampionX during the second quarter valued at about $20,677,000. New York State Teachers Retirement System boosted its holdings in shares of ChampionX by 8.1% in the second quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock worth $7,690,000 after buying an additional 17,259 shares during the period. Finally, Hantz Financial Services Inc. purchased a new position in shares of ChampionX in the second quarter worth approximately $1,475,000. 98.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $30.06, for a total value 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 $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.38% of the company’s stock.

ChampionX Trading Up 0.8 %

Shares of NASDAQ CHX opened at $30.95 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. ChampionX Co. has a one year low of $25.46 and a one year high of $39.95. The business has a 50-day moving average price of $30.54 and a two-hundred day moving average price of $31.46. The firm has a market capitalization of $5.90 billion, a PE ratio of 19.22 and a beta of 2.38.

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

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a $0.095 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. ChampionX’s dividend payout ratio (DPR) is currently 23.60%.

Analysts Set New Price Targets

Separately, Citigroup decreased 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.

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.