Victory Capital Management Inc. trimmed its holdings in ChampionX Co. (NASDAQ:CHX) by 4.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,242 shares of the company’s stock after selling 1,312 shares during the quarter. Victory Capital Management Inc.’s holdings in ChampionX were worth $609,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of ChampionX by 2.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 71,846 shares of the company’s stock worth $1,843,000 after purchasing an additional 1,612 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of ChampionX by 26.5% during the second quarter. Principal Financial Group Inc. now owns 2,185,611 shares of the company’s stock valued at $56,062,000 after acquiring an additional 457,417 shares during the last quarter. Panagora Asset Management Inc. lifted its position in ChampionX by 275.4% during the second quarter. Panagora Asset Management Inc. now owns 34,631 shares of the company’s stock worth $888,000 after buying an additional 25,405 shares during the period. BlackRock Inc. lifted its position in ChampionX by 1.2% during the second quarter. BlackRock Inc. now owns 23,834,344 shares of the company’s stock worth $611,353,000 after buying an additional 292,711 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in ChampionX during the second quarter worth about $213,000. Institutional investors own 95.27% of the company’s stock.
In other news, CAO Antoine Marcos sold 48,345 shares of the business’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $27.25, for a total value of $1,317,401.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.
ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, October 27th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $818.79 million for the quarter, compared to analyst estimates of $795.93 million. ChampionX had a net margin of 2.61% and a return on equity of 5.13%. ChampionX’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. Analysts predict that ChampionX Co. will post 0.58 earnings per share for the current year.
CHX has been the topic of a number of research reports. Barclays raised their price objective on ChampionX from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 1st. The Goldman Sachs Group initiated coverage on ChampionX in a report on Friday, September 17th. They issued a “sell” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research downgraded ChampionX from a “buy” rating to a “hold” rating in a report on Tuesday, October 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $25.28.
ChampionX Company 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.
Featured Story: Tariff
Want to see what other hedge funds are holding CHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChampionX Co. (NASDAQ:CHX).
Receive News & Ratings for ChampionX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChampionX and related companies with MarketBeat.com's FREE daily email newsletter.