Sei Investments Co. sell 67,894 shares of ChampionX Co. (NASDAQ:CHX)

Sei Investments Co. reduced its stake in ChampionX Co. (NASDAQ:CHX – Free Report) by 8.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 731,042 shares of the company’s stock after selling 67,894 shares during the period. Sei Investments Co. holdings. holdings in ChampionX were worth $24,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in ChampionX in the first quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of ChampionX in the 1st quarter valued at approximately $35,000. DekaBank Deutsche Girozentrale acquired a new position in shares of ChampionX in the second quarter valued at about $68,000. YHB Investment Advisors Inc. bought a new position in shares of ChampionX in the 1st quarter valued at approximately $134,000. Finally, Central Pacific Bank Trust Division acquired a new stake in ChampionX in the first quarter worth about $136,000. Institutional investors and hedge funds own 98.99% of the company’s shares.

Analysts set new price targets

Separately, Piper Sandler reduced their price objective on ChampionX from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00, according to MarketBeat.

Check out our latest research report on CHX

ChampionX stock down 0.1%

NASDAQ CHX opened at $31.00 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.25, and a debt-to-equity ratio of 0.34. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.13 and a beta of 2.37. The company has a 50-day moving average of $31.43 and a 200-day moving average of $33.00. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95.

ChampionX (NASDAQ:CHX – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.11). The company had revenue of $893.30 million during the quarter, compared to analyst estimates of $954.91 million. ChampionX had a net margin of 8.66% and a return on equity of 19.72%. ChampionX revenue was down 3.6% year over year. In the same period last year, the company earned $0.48 per share. On average, equities research analysts expect that ChampionX Co. to post 1.99 earnings per share for the current fiscal year.

ChampionX announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, October 4. This represents an annualized dividend of $0.38 and a yield of 1.23%. ChampionX’s dividend payout ratio is 20.65%.

About ChampionX

(Free Report)

ChampionX Corporation provides chemical 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 and Automation Technologies, Drilling Technologies and Reservoir Chemical Technologies.

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