In August, the number of investors who had short positions in ChampionX Co. saw a significant increase from the previous month (NASDAQ: CHX). As of August 15, there were 8,300,000 shares borrowed, an increase of 9.8% compared to 7,560,000 shares borrowed as of July 31.
Short sales account for approximately 4.1% of the total number of shares issued by the company. The days-to-cover ratio is currently at 4.3 days, which is derived from the fact that the market sees an average daily volume of 1,940,000 shares. In recent press releases, various research analysts were asked about their thoughts on CHX shares and given their responses. Benchmark began providing coverage of ChampionX on Wednesday, August 24, when it published a research note in which it discussed the company. They suggested an investment in the company with a “buy” recommendation and established the price objective at $32.00.
Bank of America upgraded its rating for ChampionX from “neutral” to “buy” in a research report made available to the public on Friday, July 15. In addition, the price goal set for the company was lowered from $25.00 to $22.00. On July 13, Goldman Sachs Group released a research report stating that the company’s price objective for ChampionX had decreased from $26.00 to $21.00. This information was included in the study. In addition, the company was granted a “neutral” rating by the company that rated companies. The price target for ChampionX was increased from $33.00 to $38.00 in a research note published by Barclays on Monday, May 2. The note was related to ChampionX.
Two of the equity research analysts among the four who have proposed purchasing the firm have assigned it a buy recommendation, indicating that they believe it is a good investment. According to information that Bloomberg provided, the current consensus rating for ChampionX is “Moderate Buy,” and the business’s average price goal is $28.60. On Tuesday, the price of a single share of NASDAQ CHX stock was set at $22.75 and began trading. The company has a price-to-earnings ratio of 28.80, and its beta value is 2.68, giving it a market capitalization of $4.62 billion. The debt-to-equity ratio, the current ratio, and the quick ratio all total 1.15, which is the same number as the other two ratios. 1.95 is the ratio that has been arrived at right now.
The moving average of the stock’s price over the last 50 days is $20.43, while the price of the moving average over the previous 200 days is $22.10. During the past year, the cost of a bottle of ChampionX has fluctuated from a low of $16.64 to a high of $28.08. On July 26, the most recent quarterly report for ChampionX, traded on the NASDAQ under the symbol CHX, was made accessible to the general public. The company announced earnings per share for the quarter of $0.28, which is $0.02 higher than the average forecast provided by analysts, which was $0.26 per share. The return on equity for ChampionX was 10.79%, and the net margin for the company was 4.78%. The company posted earnings of $0.11 per share during the same period the year before compared to the current year. Sell-side analysts forecast that ChampionX will bring in $1.21 per share earnings during the current financial year. In addition, the company has announced that it will be distributing a quarterly dividend on October 28. The dividend was issued after the company completed its quarterly financial report.
A dividend of $0.075 per share will be distributed to shareholders of record on Friday, October 7. This payment is made in the form of a dividend. The date shareholders will be required to pay taxes on the dividend that will be disbursed is Thursday, October 6. It translates into a dividend payout of $0.30 every year, giving the stock a yield of 1.32%. ChampionX ensures that its dividend payout ratio stays at 37.98%. How certain hedge funds and other forms of institutional investors currently have their money invested in CHX has recently seen some recent shifts. Signaturefd LLC purchased a further 87.7% ownership stake in ChampionX during the first three months of 2018. After purchasing 954 more shares during the most recent quarter, Signaturefd LLC now has 2,042 shares of the company’s stock, worth a combined total of $50,000. It brings the total number of shares owned by the company to 2,042.
During the last quarter of the fiscal year, Natixis Advisors L.P. increased the percentage of its capital invested in ChampionX by 64.1%. After acquiring an additional 52,710 shares last quarter, Natixis Advisors L.P. now owns 134,879, valued at $2,725,000. Over the final three months of 2018, Qube Research & Technologies Ltd. invested $1,540,000.00 in ChampionX shares. The amount of money that the Teacher Retirement System of Texas has invested in ChampionX saw a 19.7% increase during the fourth quarter. The Teacher Retirement System of Texas now owns a total of 38,525 shares, valued at $779,000, after purchasing 6,339 shares during the preceding quarter. And finally, during the final three months of 2018, Jennison Associates LLC increased its holdings in ChampionX by a total of 55.7% by purchasing additional shares.
After purchasing an additional 20,098 shares over the relevant period, Jennison Associates LLC now directly owns 56,166 shares of the firm, which has an aggregate value of $1,135,000. At the moment, institutions have ownership of 96.89% of the equity in the company. Concerning ChampionX, ChampionX Corporation is a significant global provider of technical instruments, technological solutions, and chemical products and services. They cater to the oil and gas industry. To manage and control corrosion, oil and water separation, flow assurance, sour gas treatment, and other water-related issues, the Production Chemical Technologies segment of the company offers onshore and offshore chemical solutions to the oil and natural gas production and midstream markets. These solutions are provided both onshore and offshore. In addition, this organization provides similar solutions to treat sour gas. Biocides, emulsion breakers, corrosion inhibitors, and scale inhibitors are all treatments that fall under this category.