Keane Group Inc (NYSE:FRAC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
FRAC has been the topic of several other reports. Zacks Investment Research raised shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, October 4th. Barclays PLC raised shares of Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Jefferies Group LLC cut their price target on shares of Keane Group from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price objective on shares of Keane Group in a research note on Tuesday, September 19th. Finally, J P Morgan Chase & Co lifted their price objective on shares of Keane Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Keane Group has a consensus rating of “Hold” and a consensus price target of $20.68.
Keane Group (FRAC) opened at $14.57 on Wednesday. Keane Group has a 1-year low of $12.42 and a 1-year high of $22.93.
Keane Group (NYSE:FRAC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The firm had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $493.40 million. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRAC. Janus Henderson Group PLC increased its holdings in Keane Group by 4,762.9% in the second quarter. Janus Henderson Group PLC now owns 4,250,092 shares of the company’s stock valued at $68,001,000 after buying an additional 4,162,694 shares in the last quarter. Vanguard Group Inc. purchased a new position in Keane Group in the first quarter valued at $31,906,000. Point72 Asset Management L.P. increased its holdings in Keane Group by 43.5% in the third quarter. Point72 Asset Management L.P. now owns 2,621,725 shares of the company’s stock valued at $43,730,000 after buying an additional 794,625 shares in the last quarter. Ninepoint Partners LP purchased a new position in Keane Group in the third quarter valued at $12,927,000. Finally, State Street Corp increased its holdings in Keane Group by 153.4% in the second quarter. State Street Corp now owns 1,111,267 shares of the company’s stock valued at $17,782,000 after buying an additional 672,659 shares in the last quarter.
About Keane Group
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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