Hudson Bay Capital Management LP Grows Holdings in ChampionX Co. (NASDAQ:CHX)

Hudson Bay Capital Management LP raised its position in shares of ChampionX Co. (NASDAQ:CHX) by 186.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 964,420 shares of the company’s stock after purchasing an additional 627,426 shares during the quarter. Hudson Bay Capital Management LP’s holdings in ChampionX were worth $26,223,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Gotham Asset Management LLC raised its stake in ChampionX by 77.0% during the 4th quarter. Gotham Asset Management LLC now owns 85,472 shares of the company’s stock valued at $2,324,000 after purchasing an additional 37,196 shares during the period. Ethic Inc. raised its position in shares of ChampionX by 6.4% during the fourth quarter. Ethic Inc. now owns 13,938 shares of the company’s stock valued at $379,000 after buying an additional 833 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of ChampionX by 34.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 137,020 shares of the company’s stock worth $3,726,000 after buying an additional 35,444 shares in the last quarter. Deutsche Bank AG boosted its position in shares of ChampionX by 39.9% during the fourth quarter. Deutsche Bank AG now owns 172,642 shares of the company’s stock worth $4,694,000 after acquiring an additional 49,210 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in ChampionX in the 4th quarter valued at $1,327,000. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ChampionX Stock Up 0.6 %

NASDAQ CHX opened at $25.10 on Friday. The stock has a 50 day moving average price of $26.68 and a 200-day moving average price of $28.28. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. The company has a market capitalization of $4.81 billion, a P/E ratio of 15.21 and a beta of 1.52.

ChampionX (NASDAQ:CHX) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The business had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. During the same quarter last year, the business earned $0.50 earnings per share. ChampionX’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.38 annualized dividend and a yield of 1.51%. ChampionX’s payout ratio is currently 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.