ChampionX Co. (NASDAQ:CHX) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its position in ChampionX Co. (NASDAQ:CHX) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,231 shares of the company’s stock after selling 59,907 shares during the period. Narwhal Capital Management owned approximately 0.07% of ChampionX worth $3,731,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in ChampionX by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 21,126 shares of the company’s stock valued at $637,000 after purchasing an additional 487 shares during the period. HighTower Advisors LLC grew its stake 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 buying an additional 564 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of ChampionX by 6.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,625 shares of the company’s stock valued at $290,000 after buying an additional 594 shares during the period. PNC Financial Services Group Inc. lifted its position in ChampionX by 1.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 54,454 shares of the company’s stock worth $1,642,000 after acquiring an additional 772 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in ChampionX by 63.7% in the 3rd quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock worth $68,000 after acquiring an additional 882 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Stock Up 0.4 %

Shares of ChampionX stock opened at $30.05 on Monday. ChampionX Co. has a 1-year low of $25.57 and a 1-year high of $39.95. The company has a market capitalization of $5.72 billion, a PE ratio of 18.66 and a beta of 2.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.20. The business has a 50-day moving average of $28.84 and a 200-day moving average of $30.30.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. 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 1.26%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Insiders Place Their Bets

In other ChampionX news, insider Deric D. Bryant sold 49,303 shares of the firm’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 transaction, the insider now directly owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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.

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.