Norden Group LLC Has $345,000 Stake in ChampionX Co. (NASDAQ:CHX)

Norden Group LLC lowered its position in shares of ChampionX Co. (NASDAQ:CHX) by 42.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,802 shares of the company’s stock after selling 8,722 shares during the period. Norden Group LLC’s holdings in ChampionX were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CHX. GAMMA Investing LLC bought a new position in shares of ChampionX during the fourth quarter worth approximately $26,000. Parkside Financial Bank & Trust grew its position in ChampionX by 19.4% during the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock worth $77,000 after buying an additional 352 shares in the last quarter. Mendota Financial Group LLC acquired a new position in ChampionX in the 4th quarter valued at $114,000. SG Americas Securities LLC lifted its position in shares of ChampionX by 16.9% during the 3rd quarter. SG Americas Securities LLC now owns 4,479 shares of the company’s stock valued at $160,000 after acquiring an additional 649 shares during the period. Finally, Prudent Man Advisors LLC bought a new stake in shares of ChampionX during the 3rd quarter valued at $201,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ChampionX

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’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 transaction of $978,408.00. Following the completion of the sale, the insider now owns 57,748 shares of the company’s stock, valued at approximately $2,078,928. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Citigroup increased their price target on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Barclays boosted their price objective on shares of ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.33.

ChampionX Price Performance

Shares of NASDAQ:CHX opened at $33.20 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.83. ChampionX Co. has a 52 week low of $24.98 and a 52 week high of $39.95. The firm has a market cap of $6.32 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.09 and a beta of 2.44. The firm’s fifty day moving average is $34.42 and its 200-day moving average is $31.14.

ChampionX (NASDAQ:CHX) last announced its earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. ChampionX had a return on equity of 21.42% and a net margin of 9.74%. The business had revenue of $922.14 million during the quarter, compared to analyst estimates of $922.13 million. Sell-side analysts predict that ChampionX Co. will post 1.95 earnings per share for the current year.

ChampionX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were issued a dividend of $0.095 per share. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.14%. ChampionX’s dividend payout ratio (DPR) is presently 20.65%.

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.