Macquarie Group Ltd. boosted its stake in shares of Keane Group Inc (NYSE:FRAC) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,436,996 shares of the company’s stock after purchasing an additional 152,504 shares during the period. Macquarie Group Ltd. owned about 1.28% of Keane Group worth $27,317,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FRAC. PEAK6 Investments L.P. bought a new stake in Keane Group during the fourth quarter valued at about $215,000. TIAA CREF Investment Management LLC raised its holdings in Keane Group by 2.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 215,463 shares of the company’s stock valued at $4,096,000 after acquiring an additional 5,553 shares during the period. Teachers Advisors LLC raised its holdings in Keane Group by 6.3% during the fourth quarter. Teachers Advisors LLC now owns 202,543 shares of the company’s stock valued at $3,850,000 after acquiring an additional 11,977 shares during the period. California State Teachers Retirement System raised its holdings in Keane Group by 17.0% during the fourth quarter. California State Teachers Retirement System now owns 62,880 shares of the company’s stock valued at $1,195,000 after acquiring an additional 9,158 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC raised its holdings in Keane Group by 15.0% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,113,500 shares of the company’s stock valued at $21,168,000 after acquiring an additional 145,125 shares during the period. Institutional investors own 34.07% of the company’s stock.
Shares of Keane Group Inc (NYSE:FRAC) opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 1.55. Keane Group Inc has a 52 week low of $12.42 and a 52 week high of $19.83. The firm has a market capitalization of $1,762.23, a P/E ratio of -41.05, a price-to-earnings-growth ratio of 0.28 and a beta of -0.70.
In other Keane Group news, Director Elmer Dale Reed sold 6,941 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $15.89, for a total transaction of $110,292.49. Following the sale, the director now directly owns 24,308 shares of the company’s stock, valued at $386,254.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 58,917,686 shares in the company, valued at $1,075,247,769.50. The disclosure for this sale can be found here. Insiders have sold 15,326,956 shares of company stock worth $279,700,566 over the last three months.
Several equities research analysts have recently issued reports on FRAC shares. Piper Jaffray Companies set a $22.00 target price on Keane Group and gave the stock a “buy” rating in a report on Monday. Guggenheim reaffirmed a “buy” rating and issued a $25.00 target price on shares of Keane Group in a report on Thursday, March 1st. Bank of America set a $22.00 target price on Keane Group and gave the stock a “buy” rating in a report on Tuesday, February 27th. Evercore ISI started coverage on Keane Group in a report on Tuesday, February 27th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Zacks Investment Research cut Keane Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.00.
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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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