Goldman Sachs Group Inc. grew its holdings in Keane Group Inc (NASDAQ:FRAC) by 130.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,205 shares of the company’s stock after buying an additional 49,375 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.08% of Keane Group worth $1,395,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in FRAC. Voya Investment Management LLC acquired a new stake in shares of Keane Group during the second quarter worth about $240,000. Precocity Capital LP acquired a new stake in Keane Group in the 2nd quarter valued at approximately $8,000,000. Parametric Portfolio Associates LLC bought a new position in shares of Keane Group during the 2nd quarter worth approximately $179,000. California Public Employees Retirement System bought a new position in shares of Keane Group during the 2nd quarter worth approximately $1,963,000. Finally, Vanguard Group Inc. boosted its stake in shares of Keane Group by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,461,921 shares of the company’s stock worth $39,391,000 after acquiring an additional 230,738 shares during the period.
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Shares of Keane Group Inc (NASDAQ FRAC) opened at $15.47 on Monday. Keane Group Inc has a 12-month low of $12.42 and a 12-month high of $22.93.
Keane Group (NASDAQ:FRAC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The company had revenue of $477.30 million during the quarter, compared to the consensus estimate of $493.40 million. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. Keane Group’s quarterly revenue was up 47.7% on a year-over-year basis.
FRAC has been the subject of several recent research reports. BidaskClub downgraded Keane Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 target price on shares of Keane Group in a research report on Tuesday, September 19th. Jefferies Group LLC started coverage on Keane Group in a report on Thursday, October 5th. They set a “buy” rating and a $20.00 price target for the company. Zacks Investment Research raised Keane Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, October 4th. Finally, Barclays PLC raised Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.68.
Keane Group 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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