Oppenheimer Asset Management Inc. Purchases Shares of 22,127 Keane Group Inc (FRAC)
Oppenheimer Asset Management Inc. acquired a new stake in Keane Group Inc (NASDAQ:FRAC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,127 shares of the company’s stock, valued at approximately $316,000.
Several other hedge funds have also recently modified their holdings of FRAC. Vanguard Group Inc. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $31,906,000. Omega Advisors Inc. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $31,293,000. Ameriprise Financial Inc. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $28,518,000. TimesSquare Capital Management LLC purchased a new stake in shares of Keane Group during the first quarter valued at approximately $22,338,000. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Keane Group during the first quarter valued at approximately $15,571,000.
Keane Group Inc (NASDAQ:FRAC) traded up 1.57% on Friday, hitting $15.49. The stock had a trading volume of 612,325 shares. The stock’s market cap is $1.60 billion. Keane Group Inc has a 12 month low of $12.42 and a 12 month high of $22.93. The firm’s 50 day moving average price is $15.37 and its 200-day moving average price is $16.30.
Keane Group (NASDAQ:FRAC) last posted its quarterly earnings results on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.06. The company had revenue of $323.10 million for the quarter, compared to the consensus estimate of $316.71 million. Keane Group had a negative net margin of 30.09% and a negative return on equity of 116.24%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. On average, analysts forecast that Keane Group Inc will post ($0.06) EPS for the current year.
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Several research firms have issued reports on FRAC. Scotiabank set a $21.00 price target on Keane Group and gave the company a “hold” rating in a report on Tuesday. Capital One Financial Corporation reissued an “overweight” rating on shares of Keane Group in a report on Thursday, July 27th. Piper Jaffray Companies restated a “buy” rating and issued a $16.15 price objective (down from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. Iberia Capital assumed coverage on Keane Group in a research report on Friday, June 23rd. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Keane Group in a research report on Wednesday, June 21st. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.38.
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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