Birnam Oak Advisors LP Makes New $17.04 Million Investment in ChampionX Co. (NASDAQ:CHX)

Birnam Oak Advisors LP bought a new position in ChampionX Co. (NASDAQ:CHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 626,588 shares of the company’s stock, valued at approximately $17,037,000. ChampionX makes up approximately 8.3% of Birnam Oak Advisors LP’s investment portfolio, making the stock its 5th largest holding. Birnam Oak Advisors LP owned about 0.33% of ChampionX as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CHX. Nikko Asset Management Americas Inc. grew its holdings in shares of ChampionX by 8.0% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 17,144 shares of the company’s stock worth $466,000 after acquiring an additional 1,265 shares during the period. Cibc World Markets Corp bought a new stake in shares of ChampionX in the fourth quarter worth $485,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of ChampionX by 4.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 123,226 shares of the company’s stock worth $3,290,000 after acquiring an additional 4,830 shares during the period. Vestcor Inc grew its holdings in shares of ChampionX by 71.6% in the fourth quarter. Vestcor Inc now owns 5,032 shares of the company’s stock worth $137,000 after acquiring an additional 2,100 shares during the period. Finally, Swiss National Bank grew its holdings in shares of ChampionX by 0.8% in the fourth quarter. Swiss National Bank now owns 374,722 shares of the company’s stock worth $10,189,000 after acquiring an additional 3,100 shares during the period. Institutional investors own 98.99% of the company’s stock.

ChampionX Stock Performance

Shares of CHX opened at $29.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.99 and a quick ratio of 1.36. ChampionX Co. has a one year low of $25.57 and a one year high of $39.95. The firm has a market capitalization of $5.66 billion, a P/E ratio of 17.97 and a beta of 2.28. The business has a fifty day moving average of $29.19 and a 200 day moving average of $29.46.

ChampionX (NASDAQ:CHX) last released its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. ChampionX had a return on equity of 19.84% and a net margin of 8.81%. As a group, sell-side analysts anticipate that ChampionX Co. will post 1.92 EPS for the current year.

ChampionX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.095 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a dividend yield of 1.28%. ChampionX’s payout ratio is 23.03%.

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.