Asset Management One Co. Ltd. purchased a new position in Keane Group Inc (NYSE:FRAC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 24,660 shares of the company’s stock, valued at approximately $365,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Keane Group by 39.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 154,602 shares of the company’s stock valued at $2,939,000 after buying an additional 44,119 shares during the last quarter. US Bancorp DE purchased a new position in shares of Keane Group during the 4th quarter valued at approximately $381,000. Teacher Retirement System of Texas purchased a new position in shares of Keane Group during the 4th quarter valued at approximately $216,000. Swiss National Bank boosted its stake in shares of Keane Group by 11.1% during the 4th quarter. Swiss National Bank now owns 57,200 shares of the company’s stock valued at $1,087,000 after buying an additional 5,700 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Keane Group by 39.6% during the 4th quarter. Wells Fargo & Company MN now owns 175,161 shares of the company’s stock valued at $3,331,000 after buying an additional 49,719 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.
In other Keane Group news, insider Gregory Powell sold 40,583 shares of the stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $16.01, for a total value of $649,733.83. Following the sale, the insider now directly owns 85,130 shares of the company’s stock, valued at $1,362,931.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Carl Stewart sold 33,814 shares of the stock in a transaction on Friday, May 11th. The stock was sold at an average price of $16.03, for a total value of $542,038.42. Following the completion of the sale, the chief executive officer now directly owns 51,698 shares in the company, valued at $828,718.94. The disclosure for this sale can be found here. Insiders have sold 157,586 shares of company stock worth $2,533,680 over the last 90 days. 0.64% of the stock is currently owned by company insiders.
Keane Group (NYSE:FRAC) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Keane Group had a return on equity of 13.67% and a net margin of 1.57%. The firm had revenue of $513.00 million for the quarter, compared to the consensus estimate of $500.02 million. During the same quarter last year, the business earned ($0.70) earnings per share. The business’s revenue for the quarter was up 113.6% compared to the same quarter last year. analysts predict that Keane Group Inc will post 1.32 EPS for the current fiscal year.
Several equities analysts have recently commented on the company. Goldman Sachs Group assumed coverage on Keane Group in a research note on Monday, June 11th. They set a “buy” rating and a $21.50 target price for the company. Citigroup reiterated a “buy” rating and set a $19.00 target price (up from $18.00) on shares of Keane Group in a research note on Tuesday, May 8th. Barclays set a $18.00 target price on Keane Group and gave the company a “hold” rating in a research note on Monday, May 7th. Cowen reiterated an “outperform” rating and set a $17.00 target price (up from $15.00) on shares of Keane Group in a research note on Friday, May 4th. Finally, Morgan Stanley reduced their target price on Keane Group from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, April 11th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Keane Group has an average rating of “Buy” and a consensus price target of $20.91.
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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