Keane Group (FRAC) Trading Up 5.8%

Keane Group Inc (NYSE:FRAC)’s share price was up 5.8% during mid-day trading on Wednesday . The company traded as high as $9.48 and last traded at $9.37. Approximately 775,998 shares were traded during trading, a decline of 32% from the average daily volume of 1,137,666 shares. The stock had previously closed at $8.86.

A number of equities analysts have issued reports on FRAC shares. JPMorgan Chase & Co. lowered their price target on Keane Group from $25.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, September 17th. Barclays set a $15.00 price target on Keane Group and gave the stock a “hold” rating in a research report on Wednesday, October 10th. TheStreet upgraded Keane Group from a “d” rating to a “c-” rating in a research report on Monday, October 1st. Jefferies Financial Group downgraded Keane Group from a “buy” rating to a “hold” rating and set a $9.37 target price on the stock. in a research report on Thursday. Finally, Bank of America initiated coverage on Keane Group in a research report on Wednesday, October 17th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.86.

The stock has a market capitalization of $980.78 million, a P/E ratio of 57.31, a P/E/G ratio of 1.58 and a beta of 0.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.46 and a quick ratio of 1.35.

Keane Group (NYSE:FRAC) last announced its quarterly earnings data on Wednesday, October 31st. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.09. Keane Group had a return on equity of 25.19% and a net margin of 4.51%. The firm had revenue of $558.91 million for the quarter, compared to the consensus estimate of $545.56 million. During the same quarter last year, the business posted $0.04 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts expect that Keane Group Inc will post 0.7 earnings per share for the current fiscal year.

In related news, major shareholder Keane Investor Holdings Llc sold 5,251,249 shares of Keane Group stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $10.77, for a total transaction of $56,555,951.73. Following the transaction, the insider now owns 51,668,175 shares in the company, valued at $556,466,244.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC acquired a new stake in Keane Group during the second quarter worth $148,000. FDx Advisors Inc. acquired a new stake in Keane Group during the third quarter worth $151,000. Martingale Asset Management L P acquired a new stake in Keane Group during the third quarter worth $169,000. Paloma Partners Management Co acquired a new stake in Keane Group during the third quarter worth $177,000. Finally, OppenheimerFunds Inc. increased its stake in Keane Group by 121.0% during the second quarter. OppenheimerFunds Inc. now owns 22,100 shares of the company’s stock worth $302,000 after acquiring an additional 12,100 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

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About Keane Group (NYSE:FRAC)

Keane Group, Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions, as well as other value-added services. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

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