Kapitalo Investimentos Ltda Increases Stock Holdings in ChampionX Corporation (NASDAQ:CHX)

Kapitalo Investimentos Ltda lifted its stake in shares of ChampionX Corporation (NASDAQ:CHX) by 297.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,009 shares of the company’s stock after buying an additional 191,672 shares during the quarter. ChampionX comprises about 1.5% of Kapitalo Investimentos Ltda’s holdings, making the stock its 17th biggest holding. Kapitalo Investimentos Ltda’s holdings in ChampionX were worth $7,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CHX. Signaturefd LLC increased its stake in ChampionX by 51.6% in the first quarter. Signaturefd LLC now owns 2,321 shares of the company’s stock valued at $69,000 after purchasing an additional 790 shares during the period. UMB Bank n.a. boosted its position in shares of ChampionX by 45.5% during the 1st quarter. UMB Bank n.a. now owns 3,097 shares of the company’s stock worth $92,000 after purchasing an additional 969 shares in the last quarter. Parallel Advisors LLC boosted its holdings in ChampionX by 27.5% during the first quarter. Parallel Advisors LLC now owns 4,672 shares of the company’s stock worth $139,000 after buying an additional 1,007 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after acquiring an additional 5,779 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of ChampionX in the fourth quarter valued at $205,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, May 5th.

ChampionX Price Performance

CHX stock opened at $25.81 on Friday. The stock’s fifty day simple moving average is $25.55 and its 200-day simple moving average is $26.98. ChampionX Corporation has a 52-week low of $21.92 and a 52-week high of $34.90. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 5.04 and a beta of 1.49. The company has a quick ratio of 1.62, a current ratio of 2.25 and a debt-to-equity ratio of 0.31.

ChampionX (NASDAQ:CHX) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million during 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%. ChampionX’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities research analysts expect that ChampionX Corporation will post 1.92 EPS for the current year.

ChampionX Announces Dividend

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