Ninepoint Partners LP decreased its holdings in Keane Group (NYSE:FRAC) by 89.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 103,539 shares of the company’s stock after selling 846,461 shares during the period. Ninepoint Partners LP owned approximately 0.09% of Keane Group worth $1,532,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Aperio Group LLC bought a new position in shares of Keane Group in the 1st quarter valued at $149,000. PEAK6 Investments L.P. bought a new position in shares of Keane Group in the 4th quarter valued at $215,000. Teacher Retirement System of Texas bought a new position in shares of Keane Group in the 4th quarter valued at $216,000. MetLife Investment Advisors LLC bought a new position in shares of Keane Group in the 4th quarter valued at $326,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of Keane Group in the 1st quarter valued at $374,000. Institutional investors own 81.69% of the company’s stock.
Several brokerages have recently issued reports on FRAC. Cowen began coverage on Keane Group in a research note on Wednesday, February 7th. They issued an “outperform” rating and a $18.00 price target on the stock. ValuEngine lowered Keane Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Citigroup restated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Keane Group in a research report on Tuesday, May 8th. Piper Jaffray Companies set a $22.00 price objective on Keane Group and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, BMO Capital Markets upgraded Keane Group from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Tuesday, April 10th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Keane Group presently has a consensus rating of “Buy” and an average price target of $20.63.
Shares of FRAC stock opened at $15.93 on Thursday. Keane Group has a twelve month low of $12.51 and a twelve month high of $19.83. The firm has a market cap of $1.82 billion, a P/E ratio of 99.56, a PEG ratio of 0.29 and a beta of -0.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.54.
Keane Group (NYSE:FRAC) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Keane Group had a net margin of 1.57% and a return on equity of 13.67%. The company had revenue of $513.00 million during the quarter, compared to the consensus estimate of $500.02 million. During the same quarter last year, the firm posted ($0.70) EPS. The company’s quarterly revenue was up 113.6% on a year-over-year basis. equities research analysts expect that Keane Group will post 1.41 EPS for the current fiscal year.
In other Keane Group news, CFO Gregory Powell sold 20,956 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $16.02, for a total value of $335,715.12. Following the sale, the chief financial officer now owns 43,554 shares in the company, valued at approximately $697,735.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James Carl Stewart sold 40,977 shares of the company’s stock in a transaction dated Thursday, April 19th. The shares were sold at an average price of $16.01, for a total value of $656,041.77. Following the completion of the sale, the chairman now owns 106,312 shares in the company, valued at approximately $1,702,055.12. The disclosure for this sale can be found here. Insiders sold a total of 153,591 shares of company stock worth $2,459,045 in the last quarter. Corporate insiders own 0.64% of the company’s stock.
About Keane Group
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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