Victory Capital Management Inc. Has $732,000 Position in ChampionX Co. (NASDAQ:CHX)

Victory Capital Management Inc. cut its stake in shares of ChampionX Co. (NASDAQ:CHX) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,554 shares of the company’s stock after selling 758 shares during the quarter. Victory Capital Management Inc.’s holdings in ChampionX were worth $732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allred Capital Management LLC acquired a new position in ChampionX during the 1st quarter worth about $48,000. Public Employees Retirement System of Ohio lifted its stake in shares of ChampionX by 5.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,848 shares of the company’s stock valued at $171,000 after purchasing an additional 409 shares during the period. Keeler Thomas Management LLC acquired a new position in shares of ChampionX in the 2nd quarter valued at about $202,000. Captrust Financial Advisors lifted its stake in shares of ChampionX by 64.6% in the 1st quarter. Captrust Financial Advisors now owns 10,280 shares of the company’s stock valued at $223,000 after purchasing an additional 4,034 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in shares of ChampionX in the 1st quarter valued at about $237,000. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CHX opened at $22.55 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.29 and a current ratio of 1.97. The stock has a 50 day moving average price of $22.88 and a two-hundred day moving average price of $23.58. The firm has a market capitalization of $4.55 billion, a P/E ratio of 375.90 and a beta of 3.30. ChampionX Co. has a 52 week low of $6.87 and a 52 week high of $30.48.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, July 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $749.17 million during the quarter, compared to analyst estimates of $724.65 million. ChampionX had a return on equity of 3.63% and a net margin of 0.45%. On average, equities analysts forecast that ChampionX Co. will post 0.57 earnings per share for the current year.

A number of brokerages have recently issued reports on CHX. TheStreet raised ChampionX from a “d+” rating to a “c-” rating in a research note on Tuesday, June 1st. Zacks Investment Research downgraded ChampionX from a “buy” rating to a “hold” rating in a research note on Tuesday, July 20th. Evercore ISI reissued a “buy” rating and issued a $25.00 price objective on shares of ChampionX in a research note on Thursday, July 8th. COKER & PALMER raised ChampionX from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, August 30th. Finally, Stifel Nicolaus boosted their target price on ChampionX from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $22.63.

ChampionX Profile

ChampionX Corp. engages in the provision of chemistry programs and services for global upstream oil and natural gas industry. It operates under the following segments: Oilfield Performance, Specialty Performance, and Corporate and other Segment. It provides applications and technology for drilling, production, and midstream.

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Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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