Keane Group Inc (NYSE:FRAC) Forecasted to Post Q4 2017 Earnings of $0.30 Per Share

Keane Group Inc (NYSE:FRAC) – Stock analysts at Jefferies Group raised their Q4 2017 EPS estimates for Keane Group in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now expects that the company will post earnings of $0.30 per share for the quarter, up from their prior forecast of $0.25. Jefferies Group has a “Buy” rating and a $19.00 price target on the stock.

Several other analysts also recently weighed in on FRAC. BidaskClub downgraded Keane Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded Keane Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Barclays upgraded Keane Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 8th. Piper Jaffray Companies set a $23.00 target price on Keane Group and gave the company a “buy” rating in a research note on Monday, December 25th. Finally, Stephens initiated coverage on Keane Group in a research note on Tuesday, January 9th. They set an “overweight” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $21.05.

Keane Group (NYSE:FRAC) traded down $0.53 during trading on Friday, hitting $13.62. The company had a trading volume of 2,401,060 shares, compared to its average volume of 2,199,585. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Keane Group has a 52 week low of $12.42 and a 52 week high of $22.24.

In other news, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $18.25, for a total transaction of $36,468,281.50. Following the transaction, the insider now directly owns 58,917,686 shares of the company’s stock, valued at approximately $1,075,247,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRAC. Viking Fund Management LLC raised its holdings in Keane Group by 14.0% in the 3rd quarter. Viking Fund Management LLC now owns 490,000 shares of the company’s stock worth $8,173,000 after purchasing an additional 60,000 shares during the period. Teachers Advisors LLC raised its holdings in Keane Group by 142.6% in the 2nd quarter. Teachers Advisors LLC now owns 120,294 shares of the company’s stock worth $1,925,000 after purchasing an additional 70,707 shares during the period. Nationwide Fund Advisors raised its holdings in Keane Group by 243.6% in the 3rd quarter. Nationwide Fund Advisors now owns 114,849 shares of the company’s stock worth $1,916,000 after purchasing an additional 81,419 shares during the period. Gagnon Securities LLC raised its holdings in Keane Group by 21.0% in the 3rd quarter. Gagnon Securities LLC now owns 41,279 shares of the company’s stock worth $689,000 after purchasing an additional 7,162 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Keane Group by 152.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,005 shares of the company’s stock worth $5,858,000 after purchasing an additional 211,839 shares during the period. 38.51% of the stock is currently owned by hedge funds and other institutional investors.

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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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