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

MetLife Investment Management LLC lowered its stake in shares of ChampionX Co. (NASDAQ:CHX) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,178 shares of the company’s stock after selling 4,119 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of ChampionX worth $6,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in ChampionX by 442.4% during the 3rd quarter. Blue Trust Inc. now owns 1,329 shares of the company’s stock worth $44,000 after buying an additional 1,084 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in ChampionX in the second quarter worth $68,000. UMB Bank n.a. increased its stake in ChampionX by 63.7% during the third quarter. UMB Bank n.a. now owns 2,266 shares of the company’s stock valued at $68,000 after purchasing an additional 882 shares during the last quarter. KBC Group NV raised its holdings in shares of 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 purchasing an additional 903 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of ChampionX in the 2nd quarter worth about $194,000. Institutional investors own 98.99% of the company’s stock.

Insider Buying and Selling at ChampionX

In other ChampionX 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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 Price Performance

Shares of CHX opened at $30.95 on Friday. 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 company has a market cap of $5.90 billion, a P/E ratio of 19.22 and a beta of 2.38. ChampionX Co. has a 12 month low of $25.46 and a 12 month high of $39.95. The stock has a fifty day moving average price of $30.54 and a 200 day moving average price of $31.46.

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 analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $906.53 million during the quarter, compared to analyst estimates of $916.50 million. ChampionX had a return on equity of 19.74% and a net margin of 8.59%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, research analysts forecast that ChampionX Co. will post 1.66 earnings per share for the current year.

ChampionX Announces Dividend

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

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.