Hudson Bay Capital Management LP Acquires 627,426 Shares of ChampionX Co. (NASDAQ:CHX)

Hudson Bay Capital Management LP lifted its stake in ChampionX Co. (NASDAQ:CHX) by 186.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 owned about 0.51% of ChampionX worth $26,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHX. Jones Financial Companies Lllp lifted its position in ChampionX by 153.2% in the 4th quarter. Jones Financial Companies Lllp now owns 924 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of ChampionX by 1,051.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,889 shares of the company’s stock valued at $51,000 after purchasing an additional 1,725 shares in the last quarter. R Squared Ltd purchased a new stake in shares of ChampionX during the fourth quarter valued at $103,000. Vestcor Inc increased its holdings in ChampionX by 71.6% in the 4th quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after buying an additional 2,100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in ChampionX by 82,557.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,786 shares of the company’s stock worth $157,000 after buying an additional 5,779 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ChampionX Stock Up 0.6 %

ChampionX stock opened at $25.10 on Friday. ChampionX Co. has a one year low of $21.92 and a one year high of $35.94. The stock has a fifty day moving average of $26.68 and a 200 day moving average of $28.28. 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 stock has a market cap of $4.81 billion, a PE ratio of 15.21 and a beta of 1.52.

ChampionX (NASDAQ:CHX) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. The firm had revenue of $864.46 million during the quarter, compared to analyst estimates of $900.59 million. ChampionX had a net margin of 8.81% and a return on equity of 19.84%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, sell-side analysts predict 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 given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, July 3rd. ChampionX’s payout ratio is 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.