Harbor Capital Advisors Inc. Purchases 3,931 Shares of ChampionX Co. (NASDAQ:CHX)

Harbor Capital Advisors Inc. lifted its position in shares of ChampionX Co. (NASDAQ:CHX) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,889 shares of the company’s stock after acquiring an additional 3,931 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.07% of ChampionX worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CHX. Blue Trust Inc. boosted its holdings in shares of ChampionX by 442.4% in the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock valued at $44,000 after purchasing an additional 1,084 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in ChampionX in the second quarter valued at about $68,000. UMB Bank n.a. grew its position in ChampionX by 63.7% in the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after acquiring an additional 882 shares during the last quarter. KBC Group NV raised its stake in ChampionX by 18.3% during the third quarter. KBC Group NV now owns 5,827 shares of the company’s stock worth $176,000 after acquiring an additional 903 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of ChampionX by 16.4% in the second quarter. Meeder Advisory Services Inc. now owns 6,531 shares of the company’s stock worth $217,000 after acquiring an additional 918 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

ChampionX Stock Performance

Shares of CHX stock opened at $27.38 on Friday. The business’s 50-day moving average price is $29.00 and its 200-day moving average price is $30.55. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 17.01 and a beta of 2.36.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business 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 company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Equities research analysts forecast that ChampionX Co. will post 1.66 EPS for the current year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be given 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 dividend yield of 1.39%. ChampionX’s dividend payout ratio (DPR) is presently 23.60%.

Insider Activity

In related news, insider Deric D. Bryant sold 49,303 shares of ChampionX 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 owns 337,409 shares of the company’s stock, valued at $10,142,514.54. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.38% of the company’s stock.

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.