Fmr LLC Decreases Stake in Keane Group Inc (FRAC)

FMR LLC lowered its stake in Keane Group Inc (NASDAQ:FRAC) by 32.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 297,400 shares of the company’s stock after selling 143,700 shares during the quarter. FMR LLC owned 0.29% of Keane Group worth $4,758,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Keane Group by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,461,921 shares of the company’s stock worth $39,391,000 after purchasing an additional 230,738 shares during the last quarter. Northern Trust Corp boosted its position in shares of Keane Group by 385.0% during the 2nd quarter. Northern Trust Corp now owns 350,288 shares of the company’s stock valued at $5,604,000 after acquiring an additional 278,060 shares during the last quarter. Penn Capital Management Co. Inc. boosted its position in shares of Keane Group by 29.4% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 1,178,876 shares of the company’s stock valued at $19,011,000 after acquiring an additional 268,015 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Keane Group by 19.5% during the 2nd quarter. New York State Common Retirement Fund now owns 418,763 shares of the company’s stock valued at $6,700,000 after acquiring an additional 68,232 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new position in shares of Keane Group during the 2nd quarter valued at about $301,000.

FRAC has been the topic of several research analyst reports. Jefferies Group LLC assumed coverage on shares of Keane Group in a report on Thursday, October 5th. They issued a “buy” rating and a $20.00 price objective on the stock. Citigroup Inc. set a $18.00 price target on shares of Keane Group and gave the stock a “hold” rating in a research note on Thursday, October 5th. Barclays PLC assumed coverage on shares of Keane Group in a research note on Friday, October 6th. They set an “underweight” rating and a $16.00 target price on the stock. Capital One Financial Corporation restated an “overweight” rating on shares of Keane Group in a research note on Thursday, July 27th. Finally, Scotiabank set a $21.00 price target on Keane Group and gave the company a “hold” rating in a report on Tuesday, August 1st. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.68.

Shares of Keane Group Inc (NASDAQ FRAC) opened at $15.43 on Tuesday. Keane Group Inc has a 52 week low of $12.42 and a 52 week high of $22.93.

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 consensus estimate of $0.16 by ($0.12). The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $493.40 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis.

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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.

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

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