Keane Group (NYSE:FRAC) Shares Down 4.6%

Keane Group Inc (NYSE:FRAC)’s share price dropped 4.6% on Thursday . The stock traded as low as $6.06 and last traded at $5.80, approximately 59,980 shares were traded during mid-day trading. A decline of 96% from the average daily volume of 1,403,938 shares. The stock had previously closed at $6.08.

FRAC has been the subject of several recent research reports. ValuEngine lowered China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Finally, TheStreet lowered Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.27.

The company has a market capitalization of $627.06 million, a P/E ratio of 6.24 and a beta of 1.29. The company’s fifty day moving average is $7.00. The company has a quick ratio of 1.33, a current ratio of 1.48 and a debt-to-equity ratio of 0.80.

Keane Group (NYSE:FRAC) last posted its earnings results on Monday, May 6th. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company had revenue of $421.70 million during the quarter, compared to analyst estimates of $412.79 million. Keane Group had a return on equity of 13.57% and a net margin of 2.24%. The business’s revenue was down 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share. Sell-side analysts expect that Keane Group Inc will post -0.26 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position 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 buying an additional 5,592 shares during the period. Legal & General Group Plc boosted its position in shares of Keane Group by 11.2% during the fourth quarter. Legal & General Group Plc now owns 9,769 shares of the company’s stock worth $80,000 after buying an additional 986 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Keane Group by 933.5% during the first quarter. BNP Paribas Arbitrage SA now owns 11,585 shares of the company’s stock worth $126,000 after buying an additional 10,464 shares during the period. Prudential Financial Inc. acquired a new position in shares of Keane Group during the fourth quarter worth approximately $103,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Keane Group during the first quarter worth approximately $150,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

About Keane Group (NYSE:FRAC)

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

Further Reading: Buy-Side Analysts

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