Cubist Systematic Strategies LLC Acquires New Stake in ChampionX Co. (NASDAQ:CHX)

Cubist Systematic Strategies LLC acquired a new stake in shares of ChampionX Co. (NASDAQ:CHX) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 48,819 shares of the company’s stock, valued at approximately $1,327,000.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its stake in ChampionX by 153.2% during the fourth quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock worth $25,000 after purchasing an additional 559 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock worth $51,000 after purchasing an additional 1,725 shares during the last quarter. R Squared Ltd bought a new stake in ChampionX during the fourth quarter worth about $103,000. Vestcor Inc lifted its stake in ChampionX by 71.6% during the fourth quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in ChampionX by 82,557.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after purchasing an additional 5,779 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

ChampionX Trading Up 0.8%

Shares of CHX stock opened at $26.26 on Wednesday. ChampionX Co. has a 12-month low of $21.92 and a 12-month high of $35.94. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $26.59 and a two-hundred day moving average price of $28.24. The firm has a market cap of $5.03 billion, a P/E ratio of 15.92 and a beta of 1.52.

ChampionX (NASDAQ:CHX) last released its earnings results on Tuesday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. The company had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. During the same quarter in the previous year, the company posted $0.50 EPS. ChampionX’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts anticipate that ChampionX Co. will post 1.92 EPS for the current fiscal year.

ChampionX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s dividend payout ratio (DPR) is presently 25.17%.

Wall Street Analysts Forecast Growth

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

About ChampionX

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.