Goldman Sachs Group Inc. increased its stake in shares of Keane Group Inc (NASDAQ:FRAC) by 130.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,205 shares of the company’s stock after buying an additional 49,375 shares during the quarter. Goldman Sachs Group Inc. owned about 0.08% of Keane Group worth $1,395,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Legal & General Group Plc grew its position in Keane Group by 64.2% during the second quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after buying an additional 2,985 shares in the last quarter. Nationwide Fund Advisors acquired a new stake in shares of Keane Group in the 1st quarter valued at $119,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Keane Group in the 2nd quarter valued at $179,000. First Mercantile Trust Co. boosted its holdings in shares of Keane Group by 35.6% in the 2nd quarter. First Mercantile Trust Co. now owns 12,644 shares of the company’s stock valued at $202,000 after purchasing an additional 3,319 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Keane Group in the 1st quarter valued at $212,000.
A number of brokerages have weighed in on FRAC. Zacks Investment Research raised Keane Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, October 4th. BidaskClub downgraded Keane Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $16.15 target price (down previously from $17.00) on shares of Keane Group in a report on Wednesday, July 12th. Jefferies Group LLC reduced their target price on Keane Group from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Friday. Finally, J P Morgan Chase & Co raised their target price on Keane Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.68.
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Shares of Keane Group Inc (FRAC) opened at $14.82 on Friday.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $493.40 million. Keane Group’s revenue for the quarter was up 47.7% on a year-over-year basis.
Keane Group 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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