Pacer Advisors Inc. Buys 1,100,096 Shares of ChampionX Corporation (NASDAQ:CHX)

Pacer Advisors Inc. grew its stake in ChampionX Corporation (NASDAQ:CHX) by 3,874.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,490 shares of the company’s stock after purchasing an additional 1,100,096 shares during the period. Pacer Advisors Inc. owned approximately 0.59% of ChampionX worth $33,629,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CHX. Teacher Retirement System of Texas purchased a new stake in ChampionX in the 1st quarter worth about $1,528,000. Schroder Investment Management Group purchased a new stake in ChampionX in the 4th quarter worth about $472,000. State of Alaska Department of Revenue increased its position in shares of ChampionX by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 22,323 shares of the company’s stock worth $665,000 after acquiring an additional 600 shares during the period. Yakira Capital Management Inc. increased its position in shares of ChampionX by 29.9% during the fourth quarter. Yakira Capital Management Inc. now owns 218,290 shares of the company’s stock worth $5,935,000 after acquiring an additional 50,300 shares during the period. Finally, M&T Bank Corp increased its position in shares of ChampionX by 2.8% during the first quarter. M&T Bank Corp now owns 26,166 shares of the company’s stock worth $780,000 after acquiring an additional 721 shares during the period. 98.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their target price on shares of ChampionX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, May 5th.

ChampionX Stock Performance

Shares of NASDAQ:CHX opened at $25.81 on Friday. The firm has a market cap of $4.94 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 5.04 and a beta of 1.49. The firm’s 50 day simple moving average is $25.55 and its 200-day simple moving average is $26.98. ChampionX Corporation has a one year low of $21.92 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.62 and a current ratio of 2.25.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $864.46 million for the quarter, compared to analyst estimates of $900.59 million. ChampionX had a net margin of 8.20% and a return on equity of 19.25%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. As a group, equities analysts predict that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Thursday, July 3rd were issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, July 3rd. ChampionX’s payout ratio is 25.17%.

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.