Keane Group Inc (FRAC) Receives Average Recommendation of “Buy” from Brokerages
Shares of Keane Group Inc (NYSE:FRAC) have earned an average rating of “Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.78.
FRAC has been the subject of several research reports. Citigroup boosted their target price on Keane Group from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 10th. Goldman Sachs Group initiated coverage on Keane Group in a report on Monday, June 11th. They issued a “buy” rating and a $21.50 target price for the company. BMO Capital Markets set a $18.00 target price on Keane Group and gave the company a “buy” rating in a report on Wednesday, July 11th. Jefferies Financial Group set a $18.00 target price on Keane Group and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, R. F. Lafferty reduced their target price on Keane Group from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, September 6th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC acquired a new position in Keane Group during the 1st quarter worth approximately $40,683,000. Millennium Management LLC increased its position in Keane Group by 81.7% during the 1st quarter. Millennium Management LLC now owns 3,634,818 shares of the company’s stock worth $53,795,000 after purchasing an additional 1,633,853 shares during the period. Citadel Advisors LLC increased its position in Keane Group by 1,557.7% during the 1st quarter. Citadel Advisors LLC now owns 1,688,058 shares of the company’s stock worth $24,984,000 after purchasing an additional 1,586,229 shares during the period. Dimensional Fund Advisors LP acquired a new position in Keane Group during the 2nd quarter worth approximately $13,387,000. Finally, BlackRock Inc. increased its position in Keane Group by 36.7% during the 1st quarter. BlackRock Inc. now owns 3,293,731 shares of the company’s stock worth $48,748,000 after purchasing an additional 884,434 shares during the period. 86.98% of the stock is owned by hedge funds and other institutional investors.
Keane Group (NYSE:FRAC) last posted its earnings results on Monday, July 30th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $558.88 million. During the same period in the previous year, the business earned ($0.11) EPS. The business’s quarterly revenue was up 79.0% on a year-over-year basis. analysts forecast that Keane Group will post 0.97 earnings per share for the current year.
About Keane Group
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.
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