Keane Group (FRAC) Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Keane Group (NYSE:FRAC) from a buy rating to a hold rating in a research note released on Thursday, MarketBeat reports. They currently have $9.37 price target on the stock.

Other analysts have also recently issued reports about the company. TheStreet raised Keane Group from a d rating to a c- rating in a research report on Monday, October 1st. JPMorgan Chase & Co. cut their price objective on Keane Group from $25.00 to $18.00 and set an overweight rating on the stock in a research report on Monday, September 17th. Barclays set a $15.00 price objective on Keane Group and gave the company a hold rating in a research report on Wednesday, October 10th. Wells Fargo & Co raised Keane Group from a market perform rating to an outperform rating and lifted their price objective for the company from $13.00 to $16.00 in a research report on Friday, November 2nd. Finally, Cowen assumed coverage on Keane Group in a research report on Saturday, October 13th. They set a buy rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $18.86.

Shares of NYSE:FRAC opened at $8.74 on Thursday. Keane Group has a 1 year low of $7.44 and a 1 year high of $19.54. The stock has a market cap of $980.78 million, a P/E ratio of 54.63, a price-to-earnings-growth ratio of 1.58 and a beta of 0.59. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.67.

Keane Group (NYSE:FRAC) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The company had revenue of $558.91 million for the quarter, compared to the consensus estimate of $545.56 million. Keane Group had a return on equity of 25.19% and a net margin of 4.51%. Keane Group’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 EPS. On average, analysts expect that Keane Group will post 0.7 earnings per share for the current fiscal year.

In other news, major shareholder Keane Investor Holdings Llc sold 5,251,249 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $10.77, for a total value of $56,555,951.73. Following the sale, the insider now directly owns 51,668,175 shares of the company’s stock, valued at approximately $556,466,244.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.64% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Verition Fund Management LLC bought a new stake in shares of Keane Group in the 2nd quarter worth approximately $148,000. FDx Advisors Inc. bought a new stake in shares of Keane Group in the 3rd quarter worth approximately $151,000. Martingale Asset Management L P bought a new stake in shares of Keane Group in the 3rd quarter worth approximately $169,000. Paloma Partners Management Co bought a new stake in shares of Keane Group in the 3rd quarter worth approximately $177,000. Finally, OppenheimerFunds Inc. boosted its position in shares of Keane Group by 121.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 22,100 shares of the company’s stock worth $302,000 after purchasing an additional 12,100 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Keane Group Company Profile

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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