Nuveen Asset Management LLC acquired a new stake in Keane Group Inc (NYSE:FRAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,667,959 shares of the company’s stock, valued at approximately $11,208,000.
Several other institutional investors and hedge funds have also bought and sold shares of FRAC. Balyasny Asset Management LLC boosted its position in shares of Keane Group by 368.5% in the second quarter. Balyasny Asset Management LLC now owns 1,019,161 shares of the company’s stock valued at $6,849,000 after acquiring an additional 801,604 shares during the period. Anchor Bolt Capital LP boosted its position in shares of Keane Group by 280.7% in the second quarter. Anchor Bolt Capital LP now owns 1,011,437 shares of the company’s stock valued at $6,797,000 after acquiring an additional 745,756 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Keane Group by 1,193.4% in the second quarter. Point72 Asset Management L.P. now owns 447,300 shares of the company’s stock valued at $3,006,000 after acquiring an additional 412,717 shares during the period. APG Asset Management N.V. bought a new stake in shares of Keane Group in the second quarter valued at approximately $1,989,000. Finally, Renaissance Technologies LLC boosted its position in shares of Keane Group by 36.0% in the second quarter. Renaissance Technologies LLC now owns 999,300 shares of the company’s stock valued at $6,715,000 after acquiring an additional 264,400 shares during the period. 90.06% of the stock is owned by institutional investors.
Shares of NYSE FRAC opened at $5.21 on Friday. The business has a fifty day simple moving average of $5.69 and a 200 day simple moving average of $7.56. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $553.27 million, a price-to-earnings ratio of 16.47 and a beta of 1.38. Keane Group Inc has a one year low of $4.69 and a one year high of $13.91.
Keane Group (NYSE:FRAC) last issued its earnings results on Monday, July 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The business had revenue of $427.70 million during the quarter, compared to analyst estimates of $413.63 million. Keane Group had a return on equity of 7.21% and a net margin of 0.53%. Keane Group’s revenue was down 26.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, research analysts anticipate that Keane Group Inc will post -0.12 earnings per share for the current fiscal year.
FRAC has been the subject of several research reports. Citigroup cut Keane Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $18.00 to $12.00 in a research report on Monday, September 9th. AltaCorp Capital reissued a “sector perform” rating on shares of Keane Group in a research report on Thursday, June 20th. R. F. Lafferty cut Keane Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $18.00 to $12.00 in a research report on Monday, September 9th. ValuEngine upgraded Keane Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Co cut their target price on Keane Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $13.19.
About Keane Group
Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.
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