Keane Group (NYSE:FRAC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Keane Group, Inc. is a provider of integrated well completion services primarily in the U.S. It focuses on complex, technically demanding completion solutions. The company primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions as well as other value-added service offerings. Keane Group, Inc. is headquartered in Houston, Texas. “
A number of other equities research analysts also recently weighed in on the company. Piper Jaffray Companies set a $23.00 target price on Keane Group and gave the company a “buy” rating in a report on Monday, December 25th. Stephens started coverage on Keane Group in a report on Tuesday, January 9th. They issued an “overweight” rating and a $24.00 target price on the stock. BidaskClub downgraded Keane Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays raised Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Finally, ValuEngine downgraded Keane Group from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Keane Group has a consensus rating of “Buy” and an average target price of $19.82.
Shares of Keane Group (NYSE:FRAC) opened at $14.86 on Tuesday. The firm has a market capitalization of $1,660.00 and a price-to-earnings ratio of -12.18. Keane Group has a twelve month low of $12.42 and a twelve month high of $20.20. The company has a quick ratio of 1.26, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.
In related news, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $18.25, for a total transaction of $36,468,281.50. Following the completion of the transaction, the insider now directly owns 58,917,686 shares of the company’s stock, valued at approximately $1,075,247,769.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new position in shares of Keane Group in the 4th quarter worth about $326,000. Macquarie Group Ltd. raised its position in shares of Keane Group by 11.9% in the 4th quarter. Macquarie Group Ltd. now owns 1,436,996 shares of the company’s stock worth $27,317,000 after acquiring an additional 152,504 shares in the last quarter. PEAK6 Investments L.P. bought a new position in shares of Keane Group in the 4th quarter worth about $215,000. TIAA CREF Investment Management LLC raised its position in shares of Keane Group by 2.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 215,463 shares of the company’s stock worth $4,096,000 after acquiring an additional 5,553 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Keane Group by 6.3% in the 4th quarter. Teachers Advisors LLC now owns 202,543 shares of the company’s stock worth $3,850,000 after acquiring an additional 11,977 shares in the last quarter. 37.87% of the stock is owned by hedge funds and other institutional investors.
Keane Group Company Profile
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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