Bank of New York Mellon Corp acquired a new position in shares of Keane Group Inc (NASDAQ:FRAC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 108,293 shares of the company’s stock, valued at approximately $1,549,000. Bank of New York Mellon Corp owned 0.11% of Keane Group at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. acquired a new position in shares of Keane Group during the first quarter worth $4,894,000. Wells Fargo & Company MN purchased a new position in Keane Group during the first quarter worth about $1,542,000. Emerald Advisers Inc. PA purchased a new position in Keane Group during the first quarter worth about $12,012,000. Emerald Mutual Fund Advisers Trust purchased a new position in Keane Group during the first quarter worth about $9,483,000. Finally, Deltec Asset Management LLC bought a new stake in shares of Keane Group during the first quarter valued at $722,000.
Shares of Keane Group Inc (FRAC) traded up 0.23% during mid-day trading on Friday, reaching $13.31. The company’s stock had a trading volume of 870,003 shares. The firm’s 50 day moving average is $15.16 and its 200 day moving average is $15.84. The firm’s market cap is $1.49 billion. Keane Group Inc has a one year low of $12.42 and a one year high of $22.93.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings data on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The business had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. Keane Group’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities analysts anticipate that Keane Group Inc will post $0.10 earnings per share for the current fiscal year.
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FRAC has been the subject of several analyst reports. R. F. Lafferty initiated coverage on Keane Group in a report on Wednesday, April 26th. They set a “buy” rating and a $22.00 target price for the company. Scotiabank set a $21.00 price objective on Keane Group and gave the stock a “hold” rating in a report on Thursday, May 4th. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Keane Group in a report on Wednesday, June 21st. Susquehanna Bancshares Inc initiated coverage on Keane Group in a report on Monday, June 5th. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, Citigroup Inc. increased their price objective on Keane Group from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.38.
About Keane Group
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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