Cushing Asset Management LP lowered its stake in shares of Keane Group Inc (NYSE:FRAC) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 391,913 shares of the company’s stock after selling 21,793 shares during the quarter. Cushing Asset Management LP owned approximately 0.35% of Keane Group worth $7,450,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of FRAC. Northern Trust Corp grew its holdings in Keane Group by 385.0% during the 2nd quarter. Northern Trust Corp now owns 350,288 shares of the company’s stock worth $5,604,000 after acquiring an additional 278,060 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in Keane Group during the 2nd quarter worth about $179,000. Voya Investment Management LLC bought a new stake in Keane Group during the 2nd quarter worth about $240,000. State Street Corp grew its holdings in Keane Group by 153.4% during the 2nd quarter. State Street Corp now owns 1,111,267 shares of the company’s stock worth $17,782,000 after acquiring an additional 672,659 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Keane Group during the 2nd quarter worth about $383,000. 34.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. ValuEngine lowered 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 decreased their price objective for the stock from $20.00 to $18.00 in a report on Tuesday, February 13th. Zacks Investment Research lowered 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 set an “overweight” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.05.
In related news, Director Elmer Dale Reed sold 6,941 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $15.89, for a total value of $110,292.49. Following the sale, the director now directly owns 24,308 shares in the company, valued at approximately $386,254.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $18.25, for a total transaction of $36,468,281.50. Following the completion of the sale, the insider now owns 58,917,686 shares in the company, valued at $1,075,247,769.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,326,956 shares of company stock worth $279,700,566.
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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