Keane Group (NYSE:FRAC) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, February 13th, MarketBeat reports. The brokerage currently has a $18.00 price target on the stock, down from their previous price target of $20.00. Citigroup’s price target would indicate a potential upside of 19.92% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Jefferies Group dropped their target price on shares of Keane Group from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Stephens initiated coverage on shares of Keane Group in a research report on Tuesday, January 9th. They issued an “overweight” rating and a $24.00 price objective for the company. ValuEngine downgraded shares of Keane Group from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Cowen assumed coverage on shares of Keane Group in a research report on Wednesday, February 7th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Barclays upgraded 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, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.82.
Shares of Keane Group (NYSE:FRAC) opened at $15.01 on Tuesday. The stock has a market cap of $1,680.00 and a P/E ratio of -12.30. Keane Group has a 1 year low of $12.42 and a 1 year high of $20.49. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.
In other news, major shareholder Keane Investor Holdings Llc sold 13,321,753 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $18.25, for a total transaction of $243,121,992.25. Following the transaction, the insider now directly owns 58,917,686 shares of the company’s stock, valued at $1,075,247,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Large investors have recently added to or reduced their stakes in the stock. Viking Fund Management LLC increased its stake in Keane Group by 14.0% in the 3rd quarter. Viking Fund Management LLC now owns 490,000 shares of the company’s stock worth $8,173,000 after purchasing an additional 60,000 shares in the last quarter. Teachers Advisors LLC increased its stake in Keane Group by 142.6% in the 2nd quarter. Teachers Advisors LLC now owns 120,294 shares of the company’s stock worth $1,925,000 after purchasing an additional 70,707 shares in the last quarter. Nationwide Fund Advisors increased its stake in Keane Group by 243.6% in the 3rd quarter. Nationwide Fund Advisors now owns 114,849 shares of the company’s stock worth $1,916,000 after purchasing an additional 81,419 shares in the last quarter. Gagnon Securities LLC increased its stake in Keane Group by 21.0% in the 3rd quarter. Gagnon Securities LLC now owns 41,279 shares of the company’s stock worth $689,000 after purchasing an additional 7,162 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Keane Group by 152.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,005 shares of the company’s stock worth $5,858,000 after purchasing an additional 211,839 shares in the last quarter. 37.87% of the stock is currently owned by hedge funds and other institutional investors.
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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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