115,387 Shares in Keane Group Inc (FRAC) Acquired by Morgan Stanley
Morgan Stanley bought a new stake in Keane Group Inc (NASDAQ:FRAC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 115,387 shares of the company’s stock, valued at approximately $1,651,000. Morgan Stanley owned about 0.11% of Keane Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FRAC. Geode Capital Management LLC bought a new position in shares of Keane Group during the first quarter valued at about $2,726,000. Vanguard Group Inc. bought a new position in shares of Keane Group during the first quarter valued at about $31,906,000. TimesSquare Capital Management LLC bought a new position in shares of Keane Group during the first quarter valued at about $22,338,000. Arosa Capital Management LP bought a new position in shares of Keane Group during the first quarter valued at about $8,583,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Keane Group during the first quarter valued at about $13,836,000.
Keane Group Inc (FRAC) traded down 0.46% during mid-day trading on Friday, hitting $12.89. 488,861 shares of the stock were exchanged. The company’s 50-day moving average price is $14.44 and its 200 day moving average price is $15.24. Keane Group Inc has a 52 week low of $12.42 and a 52 week high of $22.93. The firm’s market capitalization is $1.44 billion.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings results on Monday, July 31st. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The firm had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. Equities research analysts expect that Keane Group Inc will post $0.10 EPS for the current year.
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Several research analysts recently issued reports on the stock. Citigroup Inc. lowered shares of Keane Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $14.00 in a research report on Wednesday. Scotiabank set a $21.00 price target on shares of Keane Group and gave the company a “hold” rating in a research report on Tuesday, August 1st. Capital One Financial Corporation restated an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Piper Jaffray Companies restated a “buy” rating and set a $16.15 price target (down from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. Finally, Iberia Capital began coverage on shares of Keane Group in a research report on Friday, June 23rd. They set an “outperform” rating and a $19.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.07.
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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