291,840 Shares in ChampionX Co. (NASDAQ:CHX) Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC purchased a new position in shares of ChampionX Co. (NASDAQ:CHX – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 291,840 shares of the company’s stock, valued at approximately $8,460,000. Peregrine Capital Management LLC owned approximately 0.15% of ChampionX at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake 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 during the last quarter. Covestor Ltd lifted its stake in shares of ChampionX by 683.0% in the 1st quarter. Covestor Ltd now owns 2,216 shares of the company’s stock valued at $54,000 after acquiring an additional 1,933 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of ChampionX by 33.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,291 shares of the company’s stock valued at $44,000 after acquiring an additional 570 shares during the last quarter. Huntington National Bank lifted its stake in shares of ChampionX by 43.6% in the 3rd quarter. Huntington National Bank now owns 2,718 shares of the company’s stock valued at $54,000 after acquiring an additional 825 shares during the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of ChampionX in the 3rd quarter valued at $53,000. 98.46% of the stock is currently owned by institutional investors.

ChampionX Stock Down 2.5 %

Shares of CHX opened at $25.29 on Friday. ChampionX Co. has a 52 week low of $16.64 and a 52 week high of $33.65. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 0.52 and a beta of 2.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.74. The stock has a fifty day moving average of $30.79 and a 200-day moving average of $27.70.

ChampionX (NASDAQ:CHX – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. ChampionX had a return on equity of 14.99% and a net margin of 4.07%. The company had revenue of $985.86 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.26 EPS. ChampionX’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.78 earnings per share for the current fiscal year.

ChampionX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 7th will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 1.34%. This is an increase from ChampionX’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, April 5th. ChampionX’s dividend payout ratio is presently 40.00%.

Insider Activity at ChampionX

In related news, CAO Antoine Marcos sold 146,955 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $4,408,650.00. Following the completion of the sale, the chief accounting officer now directly owns 42,380 shares in the company, valued at $1,271,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ChampionX news, insider Paul E. Mahoney sold 1,171 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $31.29, for a total transaction of $36,640.59. Following the completion of the sale, the insider now directly owns 119,816 shares in the company, valued at approximately $3,749,042.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Antoine Marcos sold 146,955 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $4,408,650.00. Following the sale, the chief accounting officer now owns 42,380 shares of the company’s stock, valued at $1,271,400. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.