AMG National Trust Bank Reduces Stake in ChampionX Co.
The financial world took notice as AMG National Trust Bank reduced its stake in shares of ChampionX Co. by 26.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 36,262 shares of the company’s stock after selling 13,333 shares during the period. AMG National Trust Bank’s holdings in ChampionX were worth $1,051,000 as of its most recent filing with the SEC.
This move has reignited discussions on the state and future prospects of ChampionX Co., a leading global provider of chemistry solutions and engineered equipment for oil and gas drilling operations.
ChampionX Co. has been the subject of several research reports in recent times. In March, TheStreet raised shares of ChampionX from a “c+” rating to a “b-” rating in a research note while Citigroup decreased their target price on shares of ChampionX from $41.00 to $40.00 but maintained their “buy” rating for the company in April – signaling conflicting expert opinions.
For those interested in investing or divesting from ChampionX Co., it is important to note that shares of the company opened at $26.01 on Friday – significantly lower than their one-year high of $33.65 but still higher than their one-year low of $16.64.
Additionally, while industry trends change rapidly – it is pertinent to observe that despite diminishing stakeholdings from some major investors like AMG National Trust Bank, two analysts have rated the stock with a hold rating and three have issued a buy rating for champion X co., indicating long-term growth potential.
With all these factors considered alongside other investor interests related to pricing-to-earnings ratio (P/E), market capitalization, debt-to-equity ratios amongst other metrics – experts recommend carefully weighing your investment decisions and consulting with trusted financial advisors before making a move.
As of now, market analysis and data aggregator – Bloomberg.com has ChampionX Co. rated as “Moderate Buy” with an average price target of $30.80 – providing further insights for those interested in the stock’s trajectory.
ChampionX Co. Shares See Buying and Selling Activity by Hedge Funds and Institutional Investors
ChampionX Co. (NASDAQ:CHX) shares have been subject to buying and selling activity by other hedge funds recently. Profund Advisors LLC grew its stake in the firm’s shares by 12.2% during Q4, while Oppenheimer Asset Management Inc. and Quadrant Capital Group LLC each increased their holdings by 1.6% and 27.9%, respectively, across Q3 of last year. Congress Wealth Management LLC DE bought a new position in the company’s stock during Q4, valued at approximately $289,000, while Legacy Wealth Asset Management LLC also acquired new shares worth around $249,000 over the same period.
98.46% of the ChampionX’s stock is currently owned by institutional investors and hedge funds, indicating that market confidence in the company is high.
In other news, Paul E. Mahoney sold his CHX shares for $36,640 on Monday, February 13th at an average price of $31.29 per share. Following this sale, he retains ownership of almost 120 thousand of the firm’s stocks with a value just under $4 million.
ChampionX has received several analysis reports recently which have upgraded their rating from TheStreet “c+” to “b-“ on March 24th this year. Citigroup has decreased their target share price for CHX from $41 to $40 but maintain a favorable buy rating for the organization.
ChampionX reported earnings per share (EPS) for the first quarter meeting expected consensus estimates of $0.36 EPS with net margins of around 4%. Its revenue was reported at around $948 million up from previous years.
Finally, ChampionX announced a dividend payment on April 28th specifically designed to benefit its shareholders’ post-retirement income streams with no change detected to DPR that remains steady around 38%.
