Zacks Investment Research downgraded shares of Keane Group (NYSE:FRAC) from a strong-buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Keane Group, Inc. is a provider of integrated well completion services primarily in the U.S. It focuses on complex, technically demanding completion solutions. The company primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions as well as other value-added service offerings. Keane Group, Inc. is headquartered in Houston, Texas. “
Other equities research analysts have also issued reports about the company. Citigroup upgraded Keane Group from a neutral rating to a buy rating and reduced their price objective for the stock from $20.00 to $18.00 in a research note on Tuesday, February 13th. Scotiabank upgraded Keane Group from a sector perform rating to a buy rating in a research note on Wednesday, February 7th. Piper Jaffray Companies set a $23.00 price objective on Keane Group and gave the stock a buy rating in a research note on Monday, December 25th. Jefferies Group cut their price target on Keane Group from $20.00 to $19.00 and set a buy rating for the company in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Keane Group from a hold rating to a buy rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $19.82.
In other Keane Group 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 value of $36,468,281.50. Following the completion of the sale, the insider now owns 58,917,686 shares in the company, valued at approximately $1,075,247,769.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new position in shares of Keane Group during the 4th quarter valued at about $326,000. Macquarie Group Ltd. boosted its holdings in shares of Keane Group by 11.9% during the 4th quarter. Macquarie Group Ltd. now owns 1,436,996 shares of the company’s stock valued at $27,317,000 after purchasing an additional 152,504 shares during the last quarter. PEAK6 Investments L.P. bought a new position in shares of Keane Group during the 4th quarter valued at about $215,000. TIAA CREF Investment Management LLC boosted its holdings in shares of Keane Group by 2.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 215,463 shares of the company’s stock valued at $4,096,000 after purchasing an additional 5,553 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of Keane Group by 6.3% during the 4th quarter. Teachers Advisors LLC now owns 202,543 shares of the company’s stock valued at $3,850,000 after purchasing an additional 11,977 shares during the last quarter. 37.87% of the stock is owned by institutional investors and hedge funds.
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About Keane Group
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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