Keane Group (FRAC) Stock Price Down 6.2% After Insider Selling

Keane Group Inc (NYSE:FRAC) was down 6.2% during trading on Friday after an insider sold shares in the company. The company traded as low as $14.34 and last traded at $14.87. Approximately 2,349,300 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 1,496,445 shares. The stock had previously closed at $15.85.

Specifically, Director Elmer Dale Reed sold 6,941 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $15.89, for a total value of $110,292.49. Following the completion of the transaction, the director now directly owns 24,308 shares of the company’s stock, valued at approximately $386,254.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gregory Powell sold 40,583 shares of the firm’s stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $16.01, for a total transaction of $649,733.83. Following the completion of the transaction, the insider now directly owns 85,130 shares of the company’s stock, valued at $1,362,931.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,527 shares of company stock valued at $2,643,973. 0.64% of the stock is currently owned by company insiders.

FRAC has been the subject of several analyst reports. Scotiabank raised shares of Keane Group from a “sector perform” rating to a “buy” rating in a report on Wednesday, February 7th. Citigroup raised shares of Keane Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Tuesday, February 13th. Piper Jaffray Companies set a $22.00 price objective on shares of Keane Group and gave the stock a “buy” rating in a report on Monday, March 19th. Guggenheim reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Keane Group in a report on Thursday, March 1st. Finally, Bank of America set a $22.00 price objective on shares of Keane Group and gave the stock a “buy” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.63.

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 $1.79 billion, a P/E ratio of 92.94, a price-to-earnings-growth ratio of 0.28 and a beta of -0.46.

Keane Group (NYSE:FRAC) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $513.00 million during the quarter, compared to the consensus estimate of $500.02 million. During the same period in the previous year, the business earned ($0.70) earnings per share. The firm’s revenue for the quarter was up 113.6% on a year-over-year basis. equities analysts anticipate that Keane Group Inc will post 1.41 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of Keane Group during the 1st quarter worth $110,000. OppenheimerFunds Inc. bought a new stake in shares of Keane Group during the 1st quarter worth $148,000. Aperio Group LLC bought a new stake in shares of Keane Group during the 1st quarter worth $149,000. PEAK6 Investments L.P. bought a new stake in shares of Keane Group during the 4th quarter worth $215,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Keane Group during the 4th quarter worth $216,000. 81.69% of the stock is owned by institutional investors.

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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