Wells Fargo & Co upgraded shares of Keane Group (NYSE:FRAC) from a market perform rating to an outperform rating in a report issued on Friday morning, Marketbeat reports. Wells Fargo & Co currently has $16.00 price objective on the stock, up from their prior price objective of $13.00.
A number of other equities analysts have also recently issued reports on FRAC. Zacks Investment Research raised shares of Keane Group from a sell rating to a hold rating in a report on Thursday, August 2nd. Jefferies Financial Group set a $18.00 target price on shares of Keane Group and gave the stock a buy rating in a report on Tuesday, July 31st. ValuEngine raised shares of Keane Group from a sell rating to a hold rating in a report on Tuesday, July 31st. Capital One Financial reissued an overweight rating on shares of Keane Group in a report on Tuesday, July 31st. Finally, Cowen started coverage on shares of Keane Group in a report on Saturday, October 13th. They issued a buy rating and a $19.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $19.91.
NYSE:FRAC traded up $0.38 during mid-day trading on Friday, reaching $13.57. The stock had a trading volume of 569,643 shares, compared to its average volume of 1,003,948. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 84.81, a price-to-earnings-growth ratio of 0.44 and a beta of -0.50. Keane Group has a 1-year low of $10.12 and a 1-year high of $19.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 1.68.
Keane Group (NYSE:FRAC) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.09. The business had revenue of $558.91 million during the quarter, compared to the consensus estimate of $545.56 million. Keane Group had a return on equity of 25.22% and a net margin of 4.51%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities research analysts forecast that Keane Group will post 0.76 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Feinberg Stephen increased its stake in shares of Keane Group by 1.2% during the second quarter. Feinberg Stephen now owns 38,302,898 shares of the company’s stock valued at $507,893,000 after acquiring an additional 450,486 shares during the period. Janus Henderson Group PLC increased its stake in shares of Keane Group by 17.5% during the second quarter. Janus Henderson Group PLC now owns 5,076,827 shares of the company’s stock valued at $69,400,000 after acquiring an additional 755,319 shares during the period. BlackRock Inc. increased its stake in shares of Keane Group by 19.4% during the second quarter. BlackRock Inc. now owns 3,932,037 shares of the company’s stock valued at $53,750,000 after acquiring an additional 638,306 shares during the period. Macquarie Group Ltd. increased its stake in shares of Keane Group by 25.6% during the second quarter. Macquarie Group Ltd. now owns 1,975,478 shares of the company’s stock valued at $27,005,000 after acquiring an additional 402,711 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Keane Group during the second quarter valued at approximately $13,387,000. Institutional investors and hedge funds own 86.88% of the company’s stock.
Keane Group Company Profile
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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