SIR Capital Management L.P. lowered its position in shares of Keane Group Inc (NYSE:FRAC) by 29.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 563,095 shares of the company’s stock after selling 231,046 shares during the period. Keane Group accounts for 2.4% of SIR Capital Management L.P.’s portfolio, making the stock its 20th biggest holding. SIR Capital Management L.P. owned about 0.50% of Keane Group worth $10,704,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in FRAC. Quantbot Technologies LP acquired a new stake in Keane Group in the third quarter worth about $121,000. Boothbay Fund Management LLC acquired a new stake in Keane Group in the third quarter worth about $173,000. Parametric Portfolio Associates LLC acquired a new stake in Keane Group in the second quarter worth about $179,000. Advisors Asset Management Inc. lifted its holdings in Keane Group by 566.6% in the third quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock worth $183,000 after purchasing an additional 9,326 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Keane Group in the fourth quarter worth about $216,000. Institutional investors and hedge funds own 34.12% of the company’s stock.
A number of equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Keane Group from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Scotiabank raised shares of Keane Group from a “sector perform” rating to a “buy” rating in a report on Wednesday, February 7th. Citigroup raised shares of Keane Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $20.00 to $18.00 in a report on Tuesday, February 13th. Zacks Investment Research downgraded shares of Keane Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, Stephens assumed coverage on shares of Keane Group in a report on Tuesday, January 9th. They issued an “overweight” rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.05.
In other news, major shareholder Keane Investor Holdings Llc sold 13,321,753 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $18.25, for a total value of $243,121,992.25. Following the transaction, the insider now owns 58,917,686 shares in the company, valued at approximately $1,075,247,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elmer Dale Reed sold 6,941 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $15.89, for a total value of $110,292.49. Following the completion of the transaction, the director now owns 24,308 shares in the company, valued at approximately $386,254.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,326,956 shares of company stock worth $279,700,566.
Keane Group Inc (NYSE FRAC) traded down $0.52 during midday trading on Wednesday, reaching $15.75. The company’s stock had a trading volume of 1,447,957 shares, compared to its average volume of 1,734,879. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1,830.00 and a P/E ratio of -41.45. Keane Group Inc has a 12-month low of $12.42 and a 12-month high of $19.83.
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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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