Keane Group Inc (FRAC) Position Trimmed by Fmr LLC

Fmr LLC lowered its position in Keane Group Inc (NYSE:FRAC) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 250,000 shares of the company’s stock after selling 32,400 shares during the period. Fmr LLC owned about 0.23% of Keane Group worth $3,418,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Keane Group during the 1st quarter valued at about $110,000. Meeder Asset Management Inc. boosted its holdings in shares of Keane Group by 439.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,996 shares of the company’s stock valued at $109,000 after purchasing an additional 6,515 shares during the last quarter. OppenheimerFunds Inc. bought a new position in shares of Keane Group during the 1st quarter valued at about $148,000. Aperio Group LLC bought a new position in shares of Keane Group during the 1st quarter valued at about $149,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Keane Group during the 2nd quarter valued at about $140,000. 86.98% of the stock is owned by institutional investors.

Shares of NYSE FRAC opened at $12.15 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 1.68. The stock has a market cap of $1.36 billion, a PE ratio of 75.19, a price-to-earnings-growth ratio of 0.32 and a beta of -0.54. Keane Group Inc has a 12-month low of $10.12 and a 12-month high of $19.83.

Keane Group (NYSE:FRAC) last announced its earnings results on Monday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $578.50 million for the quarter, compared to analysts’ expectations of $558.88 million. Keane Group had a net margin of 3.40% and a return on equity of 20.43%. The business’s revenue was up 79.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. As a group, sell-side analysts expect that Keane Group Inc will post 0.97 EPS for the current year.

FRAC has been the subject of several research reports. Citigroup increased their price objective on shares of Keane Group from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 10th. BMO Capital Markets set a $18.00 price objective on shares of Keane Group and gave the company a “buy” rating in a report on Wednesday, July 11th. Jefferies Financial Group set a $18.00 price objective on shares of Keane Group and gave the company a “buy” rating in a report on Tuesday, July 31st. R. F. Lafferty dropped their price objective on shares of Keane Group from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, September 6th. Finally, Stifel Nicolaus initiated coverage on shares of Keane Group in a report on Monday, September 10th. They set a “buy” rating and a $16.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. Keane Group has an average rating of “Buy” and a consensus price target of $19.68.

Keane Group Company Profile

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.

Further Reading: Cash Flow Analysis in Stock Selection

Institutional Ownership by Quarter for Keane Group (NYSE:FRAC)

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