Teza Capital Management LLC Buys Shares of 10,202 ChampionX Co. (NASDAQ:CHX)

Teza Capital Management LLC purchased a new position in shares of ChampionX Co. (NASDAQ:CHX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,202 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of ChampionX during the fourth quarter worth $74,032,000. Calamos Advisors LLC increased its holdings in shares of ChampionX by 470.4% in the fourth quarter. Calamos Advisors LLC now owns 1,494,500 shares of the company’s stock valued at $40,635,000 after purchasing an additional 1,232,500 shares during the period. Adage Capital Partners GP L.L.C. raised its stake 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 worth $39,900,000 after purchasing an additional 844,301 shares during the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of ChampionX by 186.2% during 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 period. Finally, Birnam Oak Advisors LP acquired a new stake in shares of ChampionX during the fourth quarter worth about $17,037,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

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

ChampionX Stock Performance

NASDAQ CHX opened at $25.15 on Wednesday. The firm has a market capitalization of $4.81 billion, a P/E ratio of 15.24 and a beta of 1.52. The stock has a 50-day simple moving average of $26.27 and a two-hundred day simple moving average of $28.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.36 and a current ratio of 1.99. ChampionX Co. has a fifty-two week low of $21.92 and a fifty-two week high of $35.94.

ChampionX (NASDAQ:CHX) last announced 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 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 analysts’ expectations of $900.59 million. During the same period last year, the business earned $0.50 earnings per share. ChampionX’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that ChampionX Co. will post 1.92 earnings per share for the current year.

ChampionX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.51%. The ex-dividend date 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.