Point72 Europe London LLP Sells 316,553 Shares of Keane Group Inc (FRAC)
Point72 Europe London LLP decreased its holdings in shares of Keane Group Inc (NASDAQ:FRAC) by 81.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 70,758 shares of the company’s stock after selling 316,553 shares during the period. Point72 Europe London LLP owned approximately 0.06% of Keane Group worth $1,132,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FRAC. Nationwide Fund Advisors bought a new stake in shares of Keane Group during the 1st quarter valued at $119,000. Strs Ohio bought a new stake in shares of Keane Group during the 1st quarter valued at $131,000. Russell Investments Group Ltd. bought a new stake in shares of Keane Group during the 1st quarter valued at $759,000. Wells Fargo & Company MN bought a new stake in shares of Keane Group during the 1st quarter valued at $1,542,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Keane Group during the 1st quarter valued at $1,549,000.
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Several brokerages have commented on FRAC. Citigroup Inc. set a $18.00 target price on shares of Keane Group and gave the company a “hold” rating in a research report on Thursday. Jefferies Group LLC began coverage on shares of Keane Group in a research report on Thursday. They set a “buy” rating and a $20.00 target price for the company. Barclays PLC began coverage on shares of Keane Group in a research report on Friday. They set an “underweight” rating and a $16.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $16.15 target price (down previously from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. Finally, Scotiabank set a $21.00 target price on shares of Keane Group and gave the company a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Keane Group currently has an average rating of “Buy” and an average target price of $20.74.
Keane Group Inc (NASDAQ FRAC) traded down 6.34% during mid-day trading on Friday, hitting $16.10. 282,204 shares of the company were exchanged. The company’s 50-day moving average is $15.51 and its 200 day moving average is $15.51. Keane Group Inc has a 12-month low of $12.70 and a 12-month high of $22.93. The company’s market capitalization is $1.80 billion.
Keane Group (NASDAQ:FRAC) last released its earnings results on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.06. The business had revenue of $323.10 million for the quarter, compared to analyst estimates of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company’s revenue was up 34.5% on a year-over-year basis. Analysts expect that Keane Group Inc will post $0.10 EPS for the current year.
Keane Group Company 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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