Citigroup Upgrades Keane Group (FRAC) to “Buy”

Keane Group (NYSE:FRAC) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a $18.00 target price on the stock, down from their previous target price of $20.00. Citigroup’s price target suggests a potential upside of 23.63% from the company’s previous close.

A number of other research analysts have also commented on FRAC. BidaskClub lowered shares of Keane Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. Jefferies Group decreased their price target on shares of Keane Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of Keane Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Barclays raised shares of Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $23.00 price objective on shares of Keane Group and gave the company a “buy” rating in a report on Monday, December 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $19.82.

Keane Group (NYSE:FRAC) opened at $14.56 on Tuesday. Keane Group has a 52 week low of $12.42 and a 52 week high of $21.90. The company has a quick ratio of 1.26, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

In other news, major shareholder Keane Investor Holdings Llc sold 1,998,262 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $18.25, for a total transaction of $36,468,281.50. Following the completion of the sale, the insider now owns 58,917,686 shares of the company’s stock, valued at approximately $1,075,247,769.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Several institutional investors have recently modified their holdings of the company. Viking Fund Management LLC lifted its stake in Keane Group by 14.0% in the 3rd quarter. Viking Fund Management LLC now owns 490,000 shares of the company’s stock valued at $8,173,000 after purchasing an additional 60,000 shares during the last quarter. Teachers Advisors LLC lifted its stake in Keane Group by 142.6% in the 2nd quarter. Teachers Advisors LLC now owns 120,294 shares of the company’s stock valued at $1,925,000 after purchasing an additional 70,707 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Keane Group by 243.6% in the 3rd quarter. Nationwide Fund Advisors now owns 114,849 shares of the company’s stock valued at $1,916,000 after purchasing an additional 81,419 shares during the last quarter. Gagnon Securities LLC lifted its stake in Keane Group by 21.0% in the 3rd quarter. Gagnon Securities LLC now owns 41,279 shares of the company’s stock valued at $689,000 after purchasing an additional 7,162 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Keane Group by 152.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,005 shares of the company’s stock valued at $5,858,000 after purchasing an additional 211,839 shares during the last quarter. 38.90% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Keane Group (NYSE:FRAC)

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