Mutual of America Capital Management LLC boosted its position in ChampionX Co. (NASDAQ:CHX) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 537,994 shares of the company’s stock after purchasing an additional 14,594 shares during the period. Mutual of America Capital Management LLC owned approximately 0.27% of ChampionX worth $12,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CHX. State Board of Administration of Florida Retirement System increased its holdings in ChampionX by 2.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 71,846 shares of the company’s stock valued at $1,843,000 after buying an additional 1,612 shares during the period. Principal Financial Group Inc. grew its holdings in ChampionX by 26.5% in the second quarter. Principal Financial Group Inc. now owns 2,185,611 shares of the company’s stock worth $56,062,000 after purchasing an additional 457,417 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in ChampionX by 275.4% in the second quarter. Panagora Asset Management Inc. now owns 34,631 shares of the company’s stock worth $888,000 after purchasing an additional 25,405 shares during the last quarter. BlackRock Inc. grew its holdings in ChampionX by 1.2% in the second quarter. BlackRock Inc. now owns 23,834,344 shares of the company’s stock worth $611,353,000 after purchasing an additional 292,711 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in ChampionX in the second quarter worth $213,000. 95.27% of the stock is owned by institutional investors and hedge funds.
CHX has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of ChampionX from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 1st. The Goldman Sachs Group initiated coverage on shares of ChampionX in a report on Friday, September 17th. They set a “sell” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of ChampionX from a “buy” rating to a “hold” rating in a report on Tuesday, October 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $25.28.
ChampionX (NASDAQ:CHX) last issued its quarterly earnings data on Wednesday, October 27th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $818.79 million during the quarter, compared to analyst estimates of $795.93 million. ChampionX had a return on equity of 5.13% and a net margin of 2.61%. The company’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Research analysts expect that ChampionX Co. will post 0.58 earnings per share for the current year.
In other news, CAO Antoine Marcos sold 48,345 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $27.25, for a total transaction of $1,317,401.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.
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: Oilfield Performance, Specialty Performance, and Corporate and other Segment. It provides applications and technology for drilling, production, and midstream.
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