Corebridge Financial Inc. Sells 16,783 Shares of ChampionX Co. (NASDAQ:CHX)

Corebridge Financial Inc. trimmed its holdings in shares of ChampionX Co. (NASDAQ:CHX) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 309,086 shares of the company’s stock after selling 16,783 shares during the period. Corebridge Financial Inc.’s holdings in ChampionX were worth $8,404,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in ChampionX by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 19,964,329 shares of the company’s stock worth $542,830,000 after buying an additional 227,627 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of ChampionX during the 4th quarter valued at about $1,071,000. Sei Investments Co. grew its position in ChampionX by 6.9% during the fourth quarter. Sei Investments Co. now owns 776,535 shares of the company’s stock valued at $21,114,000 after buying an additional 49,885 shares during the period. Virtu Financial LLC purchased a new stake in shares of ChampionX in the 4th quarter worth $1,628,000. Finally, Quantbot Technologies LP raised its stake in ChampionX by 82.2% during the 4th quarter. Quantbot Technologies LP now owns 124,139 shares of the company’s stock worth $3,375,000 after acquiring an additional 56,001 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

ChampionX Price Performance

Shares of ChampionX stock opened at $30.15 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.32. ChampionX Co. has a 52 week low of $25.57 and a 52 week high of $39.95. The stock’s 50-day simple moving average is $29.47 and its 200-day simple moving average is $29.46. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 18.27 and a beta of 2.28.

ChampionX (NASDAQ:CHX) last issued its earnings results on Tuesday, February 4th. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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, analysts expect that ChampionX Co. will post 1.92 earnings per share for the current fiscal year.

ChampionX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.095 per share. The ex-dividend date is Friday, April 4th. This represents a $0.38 annualized dividend and a yield of 1.26%. ChampionX’s payout ratio is currently 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.