ChampionX Corp (NYSE:CHX) President of Oilfield and Specialty Performance, William O'Dell (NYSE:DELL) Jr., has sold a total of 27,178 shares of the company's common stock, according to a recent regulatory filing. The transaction, which took place on March 28, 2024, was executed at a price of $36.00 per share, resulting in a total value of approximately $978,408.
The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which was adopted by O'Dell on August 10, 2023. Such plans allow corporate insiders to set up a schedule for selling shares over time, in compliance with insider trading laws. The shares were sold in multiple trades at the single price of $36.00, as detailed in the filing.
Following the transaction, O'Dell's ownership in ChampionX Corp stands at 57,748 shares. The company, which specializes in construction, mining, and materials handling machinery and equipment, is incorporated in Delaware and has its headquarters in The Woodlands, Texas.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health and future prospects. ChampionX Corp's shares are publicly traded on the New York Stock Exchange under the ticker symbol CHX.
The filing did not disclose any further intentions of the reporting person to sell additional shares. Interested parties can request more detailed information about the transaction from the Securities and Exchange Commission, ChampionX Corp, or directly from the reporting person.
InvestingPro Insights
Amid the news of ChampionX Corp (NYSE:CHX) insider selling, investors may be seeking additional context to gauge the stock's potential. According to InvestingPro data, ChampionX Corp's Price/Earnings (P/E) Ratio stands at 20.38 as of the last twelve months ending Q4 2023, which is considered reasonable when paired with the company's near-term earnings growth. This is complemented by a PEG Ratio of just 0.2, suggesting that the stock may be undervalued based on its growth rate. Furthermore, the stock's Price/Book (P/B) Ratio is 4.04, indicating a higher valuation in terms of book value.
InvestingPro Tips highlight that ChampionX Corp has a strong return over the last month and three months, with price total returns of 15.33% and 21.4%, respectively. This performance reflects positive momentum, which could be of interest to potential investors. Moreover, the company is predicted by analysts to be profitable this year and has been profitable over the last twelve months. These factors may provide some assurance regarding the company's financial stability and outlook.
For those looking for additional insights, there are 11 more InvestingPro Tips available for ChampionX Corp, which can be accessed by visiting https://www.investing.com/pro/CHX. To further enrich your investment strategy with these tips, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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