Mirae Asset Global Investments Co. Ltd. Raises Holdings in ChampionX Co. (NASDAQ:CHX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in ChampionX Co. (NASDAQ:CHX – Get Rating) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,429 shares of the company’s stock after buying an additional 2,496 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ChampionX were worth $2,564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CHX. Benjamin Edwards Inc. purchased a new position in ChampionX during the fourth quarter worth approximately $25,000. Belpointe Asset Management LLC purchased a new position in ChampionX during the fourth quarter worth approximately $27,000. Quadrant Capital Group LLC boosted its position in ChampionX by 27.9% during the third quarter. Quadrant Capital Group LLC now owns 1,688 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Covestor Ltd boosted its position in ChampionX by 683.0% during the first quarter. Covestor Ltd now owns 2,216 shares of the company’s stock worth $54,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in ChampionX by 33.1% during the third quarter. Rockefeller Capital Management L.P. now owns 2,291 shares of the company’s stock worth $44,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.

ChampionX Price Performance

NASDAQ:CHX opened at $26.64 on Friday. ChampionX Co. has a one year low of $16.64 and a one year high of $33.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.04 and a current ratio of 1.75. The stock has a market cap of $5.27 billion, a PE ratio of 30.27, a P/E/G ratio of 0.52 and a beta of 2.55. The stock has a 50 day moving average price of $26.96 and a 200 day moving average price of $29.16.

ChampionX (NASDAQ:CHX – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. ChampionX had a return on equity of 16.87% and a net margin of 4.68%. The firm had revenue of $948.35 million during the quarter, compared to analysts’ expectations of $965.93 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts expect that ChampionX Co. will post 1.85 EPS for the current fiscal year.

ChampionX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 7th will be issued a $0.085 dividend. The ex-dividend date is Thursday, July 6th. This represents a $0.34 annualized dividend and a dividend yield of 1.28%. ChampionX’s dividend payout ratio is presently 38.64%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHX shares. Citigroup decreased their target price on ChampionX from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. TheStreet upgraded ChampionX from a “c+” rating to a “b-” rating in a research report on Friday, March 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

ChampionX Company Profile

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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: Production Chemical Technologies, Production and Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.