Westfield Capital Management Co. LP Buys 190,928 Shares of ChampionX Co. (NASDAQ:CHX)

Westfield Capital Management Co. LP lifted its position in ChampionX Co. (NASDAQ:CHXFree Report) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 891,381 shares of the company’s stock after buying an additional 190,928 shares during the quarter. Westfield Capital Management Co. LP owned about 0.46% of ChampionX worth $26,037,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CHX. Parkside Financial Bank & Trust lifted its position in shares of ChampionX by 19.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,166 shares of the company’s stock valued at $77,000 after buying an additional 352 shares during the last quarter. AMG National Trust Bank boosted its position in ChampionX by 1.0% during the third quarter. AMG National Trust Bank now owns 39,832 shares of the company’s stock worth $1,419,000 after purchasing an additional 380 shares during the period. United Services Automobile Association increased its holdings in shares of ChampionX by 4.1% in the third quarter. United Services Automobile Association now owns 13,913 shares of the company’s stock valued at $496,000 after purchasing an additional 547 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of ChampionX by 1.8% in the third quarter. Los Angeles Capital Management LLC now owns 37,026 shares of the company’s stock valued at $1,319,000 after purchasing an additional 650 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of ChampionX by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 56,369 shares of the company’s stock worth $2,008,000 after buying an additional 766 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of ChampionX from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays upped their price objective on ChampionX from $39.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup boosted their target price on shares of ChampionX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.33.

Get Our Latest Research Report on ChampionX

Insider Buying and Selling

In other news, insider William Jr. O’dell sold 27,178 shares of the firm’s stock in a transaction that occurred on 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 approximately $2,078,928. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.38% of the stock is owned by corporate insiders.

ChampionX Price Performance

CHX stock traded down $0.16 during midday trading on Friday, reaching $32.65. The company had a trading volume of 992,219 shares, compared to its average volume of 1,612,801. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.31 and a beta of 2.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.16. ChampionX Co. has a 1-year low of $24.98 and a 1-year high of $39.95. The stock has a 50 day moving average price of $35.23 and a 200-day moving average price of $31.38.

ChampionX (NASDAQ:CHXGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $922.14 million during the quarter, compared to the consensus estimate of $922.13 million. ChampionX had a net margin of 9.74% and a return on equity of 21.42%. Equities research analysts expect that ChampionX Co. will post 1.99 earnings per share for the current year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.16%. ChampionX’s dividend payout ratio (DPR) is currently 20.65%.

ChampionX Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ChampionX (NASDAQ:CHX)

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