Gagnon Securities LLC Increases Position in Keane Group Inc (FRAC)

Gagnon Securities LLC boosted its holdings in shares of Keane Group Inc (NYSE:FRAC) by 116.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,350 shares of the company’s stock after acquiring an additional 79,749 shares during the period. Gagnon Securities LLC’s holdings in Keane Group were worth $1,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bbva Compass Bancshares Inc. grew its stake in Keane Group by 27.7% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 25,313 shares of the company’s stock valued at $313,000 after acquiring an additional 5,488 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Keane Group by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,458 shares of the company’s stock valued at $4,723,000 after purchasing an additional 6,062 shares during the last quarter. Swiss National Bank boosted its holdings in Keane Group by 9.8% in the 2nd quarter. Swiss National Bank now owns 91,100 shares of the company’s stock valued at $1,245,000 after purchasing an additional 8,100 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Keane Group in the 2nd quarter valued at about $140,000. Finally, Verition Fund Management LLC acquired a new position in Keane Group in the 2nd quarter valued at about $148,000. 89.05% of the stock is owned by institutional investors.

Shares of FRAC stock opened at $11.16 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.67. Keane Group Inc has a one year low of $10.12 and a one year high of $19.83. The company has a market capitalization of $1.18 billion, a PE ratio of 9.59, a P/E/G ratio of 0.42 and a beta of -0.55.

Keane Group (NYSE:FRAC) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. Keane Group had a net margin of 4.51% and a return on equity of 25.19%. The firm had revenue of $558.91 million for the quarter, compared to analyst estimates of $545.56 million. During the same period in the prior year, the business posted $0.04 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts expect that Keane Group Inc will post 0.67 earnings per share for the current year.

Several research firms have weighed in on FRAC. Wells Fargo & Co upgraded shares of Keane Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $13.00 to $16.00 in a report on Friday, November 2nd. Citigroup decreased their target price on shares of Keane Group from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, November 29th. Cowen began coverage on shares of Keane Group in a report on Saturday, October 13th. They issued a “buy” rating and a $19.00 target price on the stock. Stifel Nicolaus began coverage on shares of Keane Group in a report on Monday, September 10th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Keane Group from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $19.79.

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Keane Group 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.

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

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