Keane Group’s (NASDAQ:FRAC) lock-up period is set to expire on Wednesday, July 19th. Keane Group had issued 26,760,000 shares in its initial public offering on January 20th. The total size of the offering was $508,440,000 based on an initial share price of $19.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
FRAC has been the topic of several research analyst reports. Instinet reissued a “neutral” rating and set a $17.00 target price on shares of Keane Group in a research note on Wednesday, April 19th. Scotiabank set a $21.00 price objective on shares of Keane Group and gave the stock a “hold” rating in a report on Thursday, May 4th. Capital One Financial Corporation restated an “overweight” rating on shares of Keane Group in a report on Thursday, July 27th. Nomura initiated coverage on shares of Keane Group in a report on Wednesday, April 19th. They set a “neutral” rating and a $17.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on shares of Keane Group in a report on Wednesday, April 12th. They set a “market perform” rating and a $17.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.38.
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Keane Group (FRAC) traded down 2.35% on Tuesday, hitting $14.53. 768,816 shares of the company’s stock traded hands. Keane Group has a 12 month low of $12.42 and a 12 month high of $22.93. The stock’s market cap is $1.50 billion. The stock has a 50 day moving average price of $15.36 and a 200-day moving average price of $16.28.
Keane Group (NASDAQ:FRAC) last posted its earnings results on Monday, July 31st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The firm had revenue of $323.10 million during 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%. The firm’s quarterly revenue was up 34.5% compared to the same quarter last year. Equities analysts predict that Keane Group will post $0.09 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in FRAC. Nationwide Fund Advisors purchased a new position in shares of Keane Group during the first quarter valued at approximately $119,000. Legal & General Group Plc raised its position in shares of Keane Group by 64.2% in the second 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 in the last quarter. Strs Ohio purchased a new position in shares of Keane Group during the first quarter valued at approximately $131,000. First Mercantile Trust Co. bought a new stake in shares of Keane Group during the first quarter worth $133,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in shares of Keane Group during the first quarter valued at $153,000.
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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