431,189 Shares in ChampionX Corporation (NASDAQ:CHX) Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp bought a new stake in shares of ChampionX Corporation (NASDAQ:CHX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 431,189 shares of the company’s stock, valued at approximately $12,849,000. Alberta Investment Management Corp owned about 0.23% of ChampionX at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CHX. Pacer Advisors Inc. lifted its holdings in shares of ChampionX by 3,874.4% in the first quarter. Pacer Advisors Inc. now owns 1,128,490 shares of the company’s stock worth $33,629,000 after buying an additional 1,100,096 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of ChampionX by 135.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,467,451 shares of the company’s stock valued at $39,900,000 after purchasing an additional 844,301 shares in the last quarter. Hudson Bay Capital Management LP increased its position in ChampionX by 186.2% in the fourth quarter. Hudson Bay Capital Management LP now owns 964,420 shares of the company’s stock worth $26,223,000 after purchasing an additional 627,426 shares during the last quarter. Westchester Capital Management LLC increased its position in ChampionX by 14.7% in the fourth quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company’s stock worth $88,181,000 after purchasing an additional 414,995 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in ChampionX during the fourth quarter valued at $10,345,000. Institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

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

ChampionX Stock Performance

Shares of CHX stock opened at $25.81 on Friday. The company 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. ChampionX Corporation has a 1 year low of $21.92 and a 1 year high of $34.90. The stock’s 50 day simple moving average is $25.65 and its two-hundred day simple moving average is $26.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.25 and a quick ratio of 1.62.

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

ChampionX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Thursday, July 3rd were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.5%. ChampionX’s payout ratio is currently 25.17%.

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.