Millennium Management LLC grew its stake in Keane Group Inc (NYSE:FRAC) by 81.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,634,818 shares of the company’s stock after buying an additional 1,633,853 shares during the quarter. Millennium Management LLC owned 3.24% of Keane Group worth $53,795,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of Keane Group in the first quarter worth $110,000. OppenheimerFunds Inc. bought a new stake in shares of Keane Group in the first quarter worth $148,000. Aperio Group LLC bought a new stake in shares of Keane Group in the first quarter worth $149,000. Cubist Systematic Strategies LLC lifted its position in shares of Keane Group by 638.3% in the first quarter. Cubist Systematic Strategies LLC now owns 12,574 shares of the company’s stock worth $186,000 after purchasing an additional 10,871 shares in the last quarter. Finally, PEAK6 Investments L.P. bought a new stake in shares of Keane Group in the fourth quarter worth $215,000. Institutional investors own 81.13% of the company’s stock.
Keane Group opened at $13.26 on Friday, according to Marketbeat Ratings. Keane Group Inc has a 1 year low of $12.51 and a 1 year high of $19.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.54. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 82.88, a PEG ratio of 0.26 and a beta of -0.52.
Keane Group (NYSE:FRAC) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). Keane Group had a net margin of 1.57% and a return on equity of 13.67%. The business had revenue of $513.00 million during the quarter, compared to analyst estimates of $500.02 million. During the same period in the previous year, the business posted ($0.70) EPS. The business’s revenue for the quarter was up 113.6% compared to the same quarter last year. equities research analysts anticipate that Keane Group Inc will post 1.32 EPS for the current year.
FRAC has been the topic of a number of research reports. Evercore ISI initiated coverage on shares of Keane Group in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $20.00 price objective on the stock. Bank of America set a $22.00 price objective on shares of Keane Group and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Guggenheim reissued a “buy” rating and issued a $25.00 price objective on shares of Keane Group in a research report on Thursday, March 1st. Piper Jaffray Companies set a $22.00 price objective on shares of Keane Group and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, ValuEngine raised shares of Keane Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Keane Group presently has an average rating of “Buy” and an average price target of $20.91.
In other Keane Group news, insider Gregory Powell sold 40,583 shares of Keane Group stock in a transaction on Thursday, April 19th. The shares were sold at an average price of $16.01, for a total transaction of $649,733.83. Following the transaction, the insider now directly owns 85,130 shares of the company’s stock, valued at approximately $1,362,931.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Paul M. Jr. Debonis sold 10,936 shares of Keane Group stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $16.91, for a total transaction of $184,927.76. Following the transaction, the chief operating officer now directly owns 33,367 shares in the company, valued at $564,235.97. The disclosure for this sale can be found here. In the last three months, insiders sold 157,586 shares of company stock valued at $2,533,680. 0.64% of the stock is currently owned by insiders.
About Keane Group
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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