Amalgamated Bank Trims Holdings in ChampionX Co. (NASDAQ:CHX)

Amalgamated Bank lessened its stake in ChampionX Co. (NASDAQ:CHX) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,666 shares of the company’s stock after selling 3,724 shares during the period. Amalgamated Bank owned about 0.06% of ChampionX worth $3,554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CHX. Congress Asset Management Co. MA grew its stake in ChampionX by 114.0% in the third quarter. Congress Asset Management Co. MA now owns 4,172,230 shares of the company’s stock worth $148,615,000 after purchasing an additional 2,222,224 shares in the last quarter. FMR LLC increased its holdings in shares of ChampionX by 20.2% in the 3rd quarter. FMR LLC now owns 7,109,432 shares of the company’s stock valued at $253,238,000 after acquiring an additional 1,193,122 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of ChampionX by 136.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,022,461 shares of the company’s stock valued at $36,420,000 after acquiring an additional 590,680 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ChampionX by 28.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,426,407 shares of the company’s stock worth $86,429,000 after purchasing an additional 538,555 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in ChampionX by 51.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 601,358 shares of the company’s stock worth $17,566,000 after purchasing an additional 204,640 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ChampionX

In other ChampionX news, insider William Jr. O’dell sold 27,178 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.00, for a total value of $978,408.00. Following the sale, the insider now directly owns 57,748 shares in the company, valued at $2,078,928. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.38% of the company’s stock.

ChampionX Stock Performance

Shares of CHX opened at $34.22 on Friday. ChampionX Co. has a 52-week low of $24.98 and a 52-week high of $39.95. The firm has a market capitalization of $6.52 billion, a PE ratio of 18.60, a P/E/G ratio of 1.06 and a beta of 2.45. The firm has a 50-day moving average price of $34.81 and a 200 day moving average price of $31.17. The company has a quick ratio of 1.16, a current ratio of 1.83 and a debt-to-equity ratio of 0.35.

ChampionX (NASDAQ:CHX) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $922.14 million for the quarter, compared to analyst estimates of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. On average, sell-side analysts anticipate that ChampionX Co. will post 1.95 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a $0.095 dividend. This is a positive change from ChampionX’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.11%. ChampionX’s dividend payout ratio is 20.65%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CHX shares. Piper Sandler raised their price target on shares of ChampionX from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays raised their target price on shares of ChampionX from $39.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup upped their target price on ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ChampionX has a consensus rating of “Moderate Buy” and an average target price of $40.33.

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.