Keane Group (FRAC) Upgraded to “Buy” at Citigroup

Keane Group (NYSE:FRAC) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $18.00 price target on the stock. Citigroup’s target price indicates a potential upside of 25.96% from the company’s current price.

FRAC has been the topic of a number of other reports. BidaskClub raised Keane Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Scotiabank raised Keane Group from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, February 7th. Zacks Investment Research lowered Keane Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies set a $23.00 price objective on Keane Group and gave the stock a “buy” rating in a research note on Monday, December 25th. Finally, Barclays raised Keane Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.05.

Shares of Keane Group (NYSE FRAC) opened at $14.29 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Keane Group has a 12 month low of $12.42 and a 12 month high of $22.24.

In other Keane Group news, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of Keane Group stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $18.25, for a total value of $36,468,281.50. Following the sale, the insider now owns 58,917,686 shares in the company, valued at $1,075,247,769.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in Keane Group by 9.6% in the third quarter. Janus Henderson Group PLC now owns 4,658,292 shares of the company’s stock valued at $77,700,000 after purchasing an additional 408,200 shares during the period. Point72 Asset Management L.P. raised its position in Keane Group by 43.5% in the third quarter. Point72 Asset Management L.P. now owns 2,621,725 shares of the company’s stock valued at $43,730,000 after purchasing an additional 794,625 shares during the period. Vanguard Group Inc. raised its position in Keane Group by 10.3% in the second 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. BlackRock Inc. raised its position in Keane Group by 9.9% in the fourth quarter. BlackRock Inc. now owns 2,409,297 shares of the company’s stock valued at $45,800,000 after purchasing an additional 216,648 shares during the period. Finally, Macquarie Group Ltd. raised its position in Keane Group by 46.6% in the third quarter. Macquarie Group Ltd. now owns 1,284,492 shares of the company’s stock valued at $21,425,000 after purchasing an additional 408,424 shares during the period. Institutional investors own 38.90% of the company’s stock.

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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.

Analyst Recommendations for Keane Group (NYSE:FRAC)

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