Gotham Asset Management LLC Has $2.32 Million Holdings in ChampionX Co. (NASDAQ:CHX)

Gotham Asset Management LLC lifted its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 77.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 85,472 shares of the company’s stock after buying an additional 37,196 shares during the period. Gotham Asset Management LLC’s holdings in ChampionX were worth $2,324,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in ChampionX by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock valued at $542,830,000 after acquiring an additional 227,627 shares during the period. Westchester Capital Management LLC boosted its position in shares of ChampionX by 14.7% during the 4th quarter. Westchester Capital Management LLC now owns 3,243,134 shares of the company’s stock worth $88,181,000 after acquiring an additional 414,995 shares in the last quarter. Northern Trust Corp boosted its position in shares of ChampionX by 10.9% during the 4th quarter. Northern Trust Corp now owns 2,917,978 shares of the company’s stock worth $79,340,000 after acquiring an additional 286,853 shares in the last quarter. AQR Arbitrage LLC boosted its position in ChampionX by 7.4% in the fourth quarter. AQR Arbitrage LLC now owns 2,808,543 shares of the company’s stock valued at $75,859,000 after buying an additional 194,219 shares in the last quarter. Finally, Norges Bank acquired a new stake in ChampionX in the fourth quarter valued at approximately $74,032,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price target on shares of 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

Shares of NASDAQ CHX opened at $26.00 on Friday. ChampionX Co. has a twelve month low of $21.92 and a twelve month high of $35.94. The firm has a fifty day simple moving average of $26.45 and a 200 day simple moving average of $28.20. The company has a market capitalization of $4.98 billion, a PE ratio of 15.76 and a beta of 1.52. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

ChampionX (NASDAQ:CHX) last posted 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. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The firm had revenue of $864.46 million during the quarter, compared to the consensus estimate of $900.59 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s dividend 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.