Keane Group (FRAC) Trading Up 7.9%

Keane Group Inc (NYSE:FRAC)’s share price was up 7.9% on Wednesday . The company traded as high as $12.61 and last traded at $12.54. Approximately 2,789,409 shares changed hands during mid-day trading, an increase of 90% from the average daily volume of 1,464,324 shares. The stock had previously closed at $11.62.

A number of equities analysts have recently weighed in on FRAC shares. Goldman Sachs Group started coverage on Keane Group in a research note on Monday, June 11th. They issued a “buy” rating and a $21.50 target price on the stock. Citigroup boosted their target price on Keane Group from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Keane Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Jefferies Financial Group set a $18.00 target price on Keane Group and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, ValuEngine upgraded Keane Group from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Keane Group presently has a consensus rating of “Buy” and a consensus price target of $20.15.

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.68 and a quick ratio of 1.51. The company has a market cap of $1.17 billion, a P/E ratio of 74.88, a P/E/G ratio of 0.23 and a beta of -0.49.

Keane Group (NYSE:FRAC) last posted its quarterly earnings data on Monday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Keane Group had a return on equity of 20.43% and a net margin of 3.40%. The business had revenue of $578.50 million for the quarter, compared to the consensus estimate of $558.88 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Keane Group’s revenue for the quarter was up 79.0% on a year-over-year basis. analysts expect that Keane Group Inc will post 1.17 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of FRAC. Wells Fargo & Company MN lifted its stake in Keane Group by 24.2% in the first quarter. Wells Fargo & Company MN now owns 217,514 shares of the company’s stock valued at $3,219,000 after purchasing an additional 42,353 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Keane Group by 43.7% during the first quarter. Rhumbline Advisers now owns 48,601 shares of the company’s stock worth $719,000 after acquiring an additional 14,778 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Keane Group by 18.6% during the first quarter. American Century Companies Inc. now owns 133,178 shares of the company’s stock worth $1,971,000 after acquiring an additional 20,928 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Keane Group during the first quarter worth $2,082,000. Finally, Swiss National Bank lifted its position in shares of Keane Group by 45.1% during the first quarter. Swiss National Bank now owns 83,000 shares of the company’s stock worth $1,228,000 after acquiring an additional 25,800 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Keane Group Company Profile (NYSE:FRAC)

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, as well as other value-added services. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

Further Reading: Moving Average (MA)

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