Bbva Compass Bancshares Inc. Raises Position in Keane Group Inc (NASDAQ:FRAC)
Bbva Compass Bancshares Inc. boosted its position in shares of Keane Group Inc (NASDAQ:FRAC) by 143.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,039 shares of the company’s stock after buying an additional 15,361 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Keane Group were worth $417,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Henderson Group PLC purchased a new position in shares of Keane Group during the first quarter worth $1,250,000. American Century Companies Inc. purchased a new position in shares of Keane Group during the first quarter worth $4,894,000. Wells Fargo & Company MN purchased a new position in shares of Keane Group during the first quarter worth $1,542,000. Emerald Advisers Inc. PA purchased a new position in shares of Keane Group during the first quarter worth $12,012,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Keane Group during the first quarter worth $9,483,000.
Shares of Keane Group Inc (NASDAQ FRAC) opened at 14.88 on Tuesday. The company’s 50 day moving average price is $15.37 and its 200-day moving average price is $16.30. Keane Group Inc has a 12 month low of $12.42 and a 12 month high of $22.93. The firm’s market capitalization is $1.53 billion.
Keane Group (NASDAQ:FRAC) last released its earnings results on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The firm had revenue of $323.10 million for the quarter, compared to the consensus estimate of $316.71 million. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, equities analysts predict that Keane Group Inc will post ($0.06) earnings per share for the current fiscal year.
A number of brokerages have weighed in on FRAC. Citigroup Inc. raised their price objective on Keane Group from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $16.15 target price (down from $17.00) on shares of Keane Group in a research note on Wednesday, July 12th. BMO Capital Markets assumed coverage on Keane Group in a research note on Wednesday, April 12th. They issued a “market perform” rating and a $17.00 target price for the company. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Keane Group in a research note on Thursday, July 27th. Finally, Susquehanna Bancshares Inc assumed coverage on Keane Group in a research note on Monday, June 5th. They issued a “neutral” rating and a $17.00 target price for the company. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Keane Group has a consensus rating of “Buy” and a consensus price target of $21.38.
About Keane Group
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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