Westfield Capital Management Co. LP Buys 50,120 Shares of ChampionX Co. (NASDAQ:CHX)

Westfield Capital Management Co. LP lifted its stake in shares of ChampionX Co. (NASDAQ:CHX) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,133,863 shares of the company’s stock after purchasing an additional 50,120 shares during the quarter. Westfield Capital Management Co. LP owned 0.60% of ChampionX worth $34,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in shares of ChampionX during the first quarter worth $1,052,000. Point72 DIFC Ltd bought a new stake in ChampionX during the 2nd quarter worth $623,000. Quest Partners LLC increased its holdings in ChampionX by 86.8% in the 3rd quarter. Quest Partners LLC now owns 69,102 shares of the company’s stock worth $2,083,000 after purchasing an additional 32,103 shares in the last quarter. New York State Teachers Retirement System raised its position in ChampionX by 8.1% in the second quarter. New York State Teachers Retirement System now owns 231,551 shares of the company’s stock valued at $7,690,000 after purchasing an additional 17,259 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of ChampionX during the second quarter valued at about $20,677,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

ChampionX Trading Down 0.1 %

CHX opened at $31.24 on Monday. The company has a market cap of $5.95 billion, a P/E ratio of 19.40 and a beta of 2.38. The company has a fifty day moving average price of $30.46 and a two-hundred day moving average price of $31.55. 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 1-year low of $25.46 and a 1-year high of $39.95.

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

ChampionX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, January 3rd. ChampionX’s payout ratio is presently 23.60%.

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 for the company in a report on Thursday, November 14th.

Insider Activity at ChampionX

In related news, insider Deric D. Bryant sold 49,303 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 337,409 shares in the company, valued at approximately $10,142,514.54. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is owned by insiders.

ChampionX Company 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.