Keane Group Inc (FRAC) Stake Increased by Nationwide Fund Advisors
Nationwide Fund Advisors lifted its stake in shares of Keane Group Inc (NASDAQ:FRAC) by 302.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,430 shares of the company’s stock after buying an additional 25,118 shares during the quarter. Nationwide Fund Advisors’ holdings in Keane Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC grew its position in shares of Keane Group by 142.6% during the second quarter. Teachers Advisors LLC now owns 120,294 shares of the company’s stock worth $1,925,000 after buying an additional 70,707 shares in the last quarter. American Century Companies Inc. grew its position in shares of Keane Group by 58.0% during the second quarter. American Century Companies Inc. now owns 540,885 shares of the company’s stock worth $8,654,000 after buying an additional 198,626 shares in the last quarter. Morgan Stanley acquired a new stake in shares of Keane Group during the first quarter worth approximately $1,651,000. JPMorgan Chase & Co. acquired a new stake in shares of Keane Group during the first quarter worth approximately $1,543,000. Finally, Eagle Boston Investment Management Inc. acquired a new stake in shares of Keane Group during the second quarter worth approximately $6,223,000.
Keane Group (NASDAQ:FRAC) last issued its earnings results on Wednesday, November 1st. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $493.40 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year.
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FRAC has been the subject of a number of recent analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $16.15 price target (down previously from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. BidaskClub raised shares of Keane Group from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Jefferies Group LLC started coverage on shares of Keane Group in a report on Thursday, October 5th. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research raised shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, October 4th. Finally, Citigroup Inc. set a $18.00 price objective on shares of Keane Group and gave the stock a “hold” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Keane Group currently has an average rating of “Hold” and an average price target of $20.74.
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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