MetLife Investment Advisors LLC reduced its stake in shares of Keane Group Inc (NYSE:FRAC) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,842 shares of the company’s stock after selling 14,266 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Keane Group were worth $211,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in Keane Group during the fourth quarter worth $69,000. Great West Life Assurance Co. Can grew its holdings in shares of Keane Group by 169.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 8,892 shares of the company’s stock worth $70,000 after purchasing an additional 5,592 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Keane Group during the fourth quarter worth $103,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Keane Group during the fourth quarter worth $108,000. Finally, Martingale Asset Management L P bought a new stake in shares of Keane Group during the third quarter worth $169,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Several brokerages have recently commented on FRAC. R. F. Lafferty restated a “buy” rating and set a $26.00 target price on shares of Keane Group in a report on Tuesday, February 26th. Zacks Investment Research upgraded Keane Group from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, March 5th. Piper Jaffray Companies set a $17.00 target price on Keane Group and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jefferies Financial Group upgraded Keane Group from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, March 15th. Finally, Goldman Sachs Group began coverage on Keane Group in a report on Sunday, March 10th. They set a “neutral” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.62.
In related news, CFO Gregory Powell sold 43,271 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $10.57, for a total value of $457,374.47. Following the transaction, the chief financial officer now owns 215,874 shares in the company, valued at $2,281,788.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Carl Stewart sold 108,304 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $10.30, for a total value of $1,115,531.20. Following the completion of the transaction, the insider now owns 260,027 shares in the company, valued at approximately $2,678,278.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,933 shares of company stock worth $1,977,199. 0.51% of the stock is owned by company insiders.
Keane Group stock opened at $11.85 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 12.88 and a beta of 1.17. Keane Group Inc has a 12-month low of $7.44 and a 12-month high of $16.95. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71.
Keane Group (NYSE:FRAC) last posted its quarterly earnings results on Monday, February 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.10. The business had revenue of $486.55 million for the quarter, compared to analysts’ expectations of $489.87 million. Keane Group had a return on equity of 20.19% and a net margin of 2.78%. As a group, equities analysts predict that Keane Group Inc will post -0.15 earnings per share for the current fiscal year.
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Keane Group Company Profile
Keane Group, Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.
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