Howard Hughes Medical Institute Purchases Shares of 18,798 Keane Group Inc (FRAC)
Howard Hughes Medical Institute purchased a new stake in shares of Keane Group Inc (NASDAQ:FRAC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,798 shares of the company’s stock, valued at approximately $301,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FRAC. Nationwide Fund Advisors purchased a new position in shares of Keane Group during the 1st quarter valued at $119,000. Legal & General Group Plc lifted its position in shares of Keane Group by 64.2% during the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock valued at $120,000 after buying an additional 2,985 shares during the last quarter. Strs Ohio purchased a new position in shares of Keane Group during the 1st quarter valued at $131,000. First Mercantile Trust Co. lifted its position in shares of Keane Group by 35.6% during the 2nd quarter. First Mercantile Trust Co. now owns 12,644 shares of the company’s stock valued at $202,000 after buying an additional 3,319 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Keane Group during the 1st quarter valued at $212,000.
Keane Group Inc (NASDAQ:FRAC) traded up 1.77% during mid-day trading on Monday, hitting $14.40. The company had a trading volume of 35,378 shares. The company’s market capitalization is $1.61 billion. The firm’s 50 day moving average is $13.68 and its 200 day moving average is $15.43. Keane Group Inc has a 52 week low of $12.42 and a 52 week high of $22.93.
Keane Group (NASDAQ:FRAC) last released its earnings results on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 14.38% and a negative net margin of 3.68%. Keane Group’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, equities research analysts predict that Keane Group Inc will post $0.09 EPS for the current year.
A number of research analysts have recently commented on the company. Scotiabank set a $21.00 price target on Keane Group and gave the company a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised Keane Group from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.15 price target (down previously from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. Citigroup Inc. upped their price target on Keane Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Susquehanna Bancshares Inc assumed coverage on Keane Group in a research report on Monday, June 5th. They set a “neutral” rating and a $17.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Keane Group currently has a consensus rating of “Buy” and an average price target of $20.82.
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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