Parametric Portfolio Associates LLC Acquires New Position in Keane Group, Inc. (FRAC)
Parametric Portfolio Associates LLC acquired a new stake in shares of Keane Group, Inc. (NYSE:FRAC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,192 shares of the company’s stock, valued at approximately $179,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc boosted its holdings in Keane Group by 64.2% in the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock valued at $120,000 after purchasing an additional 2,985 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Keane Group by 35.6% in the 2nd quarter. First Mercantile Trust Co. now owns 12,644 shares of the company’s stock valued at $202,000 after purchasing an additional 3,319 shares during the last quarter. Howard Hughes Medical Institute acquired a new position in Keane Group in the 2nd quarter valued at about $301,000. Bbva Compass Bancshares Inc. boosted its holdings in Keane Group by 143.9% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 26,039 shares of the company’s stock valued at $417,000 after purchasing an additional 15,361 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Keane Group by 21.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,918 shares of the company’s stock valued at $431,000 after purchasing an additional 4,791 shares during the last quarter. 38.30% of the stock is owned by institutional investors.
FRAC has been the topic of several recent analyst reports. Citigroup lowered shares of Keane Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $14.00 in a report on Wednesday, August 30th. J P Morgan Chase & Co boosted their target price on shares of Keane Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. BidaskClub upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a report on Saturday, September 16th. Zacks Investment Research lowered shares of Keane Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Barclays upgraded shares of Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Keane Group has a consensus rating of “Hold” and an average target price of $20.68.
Keane Group, Inc. (FRAC) opened at $15.64 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Keane Group, Inc. has a fifty-two week low of $12.42 and a fifty-two week high of $22.93.
Keane Group (NYSE:FRAC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The company had revenue of $477.30 million during the quarter, compared to analyst estimates of $493.40 million. The business’s quarterly revenue was up 47.7% on a year-over-year basis. analysts forecast that Keane Group, Inc. will post 0.1 EPS for the current year.
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Keane Group Profile
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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