Keane Group (NYSE:FRAC) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, February 7th.
FRAC has been the subject of several other reports. BidaskClub upgraded Keane Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research cut 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 target price on Keane Group and gave the stock a “buy” rating in a research note on Monday, December 25th. Barclays upgraded Keane Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 8th. Finally, Cowen started coverage on Keane Group in a research note on Wednesday, February 7th. They set an “outperform” rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Keane Group has an average rating of “Buy” and a consensus price target of $21.05.
Keane Group (NYSE:FRAC) traded up $0.57 during midday trading on Wednesday, reaching $14.56. The company’s stock had a trading volume of 1,668,323 shares, compared to its average volume of 1,893,904. The company has a quick ratio of 1.26, a current ratio of 1.41 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 $21.90. The company has a market capitalization of $1,620.00 and a PE ratio of -11.93.
In other news, major shareholder Keane Investor Holdings Llc sold 13,321,753 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $18.25, for a total value of $243,121,992.25. Following the completion of the transaction, the insider now directly owns 58,917,686 shares in the company, valued at approximately $1,075,247,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of Keane Group by 64.2% in the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock valued at $120,000 after acquiring an additional 2,985 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Keane Group in the third quarter valued at $121,000. Boothbay Fund Management LLC acquired a new stake in Keane Group in the third quarter valued at $173,000. Parametric Portfolio Associates LLC acquired a new stake in Keane Group in the second quarter valued at $179,000. Finally, Advisors Asset Management Inc. increased its holdings in Keane Group by 566.6% in the third quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock valued at $183,000 after purchasing an additional 9,326 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.
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