Bank of America Corp DE Invests $2.24 Million in Keane Group Inc (NASDAQ:FRAC)
Bank of America Corp DE acquired a new stake in shares of Keane Group Inc (NASDAQ:FRAC) during the first quarter, Holdings Channel reports. The fund acquired 156,677 shares of the company’s stock, valued at approximately $2,241,000.
Several other institutional investors also recently modified their holdings of the stock. Nationwide Fund Advisors bought a new position in shares of Keane Group during the first quarter valued at about $119,000. Strs Ohio bought a new position in shares of Keane Group during the first quarter valued at about $131,000. First Mercantile Trust Co. bought a new position in shares of Keane Group during the first quarter valued at about $133,000. Bbva Compass Bancshares Inc. bought a new position in shares of Keane Group during the first quarter valued at about $153,000. Finally, Creative Planning bought a new position in shares of Keane Group during the first quarter valued at about $177,000.
Shares of Keane Group Inc (NASDAQ FRAC) traded down 1.89% during trading on Friday, hitting $14.03. The company had a trading volume of 958,606 shares. The firm’s market capitalization is $1.57 billion. Keane Group Inc has a 52-week low of $12.42 and a 52-week high of $22.93. The stock’s 50-day moving average is $15.36 and its 200 day moving average is $16.14.
Keane Group (NASDAQ:FRAC) last announced its quarterly earnings data on Monday, July 31st. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $323.10 million during the quarter, compared to the consensus estimate of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The business’s revenue was up 34.5% on a year-over-year basis. Equities research analysts predict that Keane Group Inc will post $0.10 earnings per share for the current fiscal year.
FRAC has been the subject of several analyst reports. R. F. Lafferty initiated coverage on Keane Group in a report on Wednesday, April 26th. They issued a “buy” rating and a $22.00 price objective for the company. Citigroup Inc. boosted 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 reissued a “buy” rating and issued a $16.15 price objective (down previously from $17.00) on shares of Keane Group in a report on Wednesday, July 12th. Scotiabank set a $21.00 price objective on Keane Group and gave the company a “hold” rating in a report on Tuesday, August 1st. Finally, Susquehanna Bancshares Inc initiated coverage on Keane Group in a report on Monday, June 5th. They issued a “neutral” rating and a $17.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price 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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