Royal Bank of Canada decreased its stake in shares of Keane Group Inc (NASDAQ:FRAC) by 40.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 541,780 shares of the company’s stock after selling 372,876 shares during the quarter. Royal Bank of Canada owned about 0.48% of Keane Group worth $8,668,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of FRAC. Vanguard Group Inc. boosted its stake in Keane Group by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,461,921 shares of the company’s stock valued at $39,391,000 after purchasing an additional 230,738 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Keane Group by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,103,945 shares of the company’s stock valued at $33,662,000 after acquiring an additional 109,364 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Keane Group during the 1st quarter valued at $26,731,000. Penn Capital Management Co. Inc. lifted 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 period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Keane Group during the 1st quarter valued at $13,836,000.
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Keane Group Inc (NASDAQ FRAC) opened at 14.17 on Friday. Keane Group Inc has a one year low of $12.42 and a one year high of $22.93. The firm has a 50-day moving average price of $15.33 and a 200 day moving average price of $14.86. The company’s market cap is $1.58 billion.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings data on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. The company’s revenue was up 34.5% compared to the same quarter last year. Equities analysts expect that Keane Group Inc will post $0.10 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on FRAC. Zacks Investment Research upgraded Keane Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, October 4th. BidaskClub cut Keane Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Piper Jaffray Companies reissued a “buy” rating and set a $16.15 price target (down previously from $17.00) on shares of Keane Group in a report on Wednesday, July 12th. JPMorgan Chase & Co. boosted their price target on Keane Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, September 12th. Finally, Scotiabank set a $21.00 target price on Keane Group and gave the stock a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.74.
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.
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