Keane Group Inc (FRAC) Position Lowered by Northern Trust Corp

Northern Trust Corp lowered its position in Keane Group Inc (NYSE:FRAC) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 621,749 shares of the company’s stock after selling 35,136 shares during the period. Northern Trust Corp owned about 0.60% of Keane Group worth $5,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in Keane Group by 8,067.6% during the 4th quarter. Bank of Montreal Can now owns 103,483 shares of the company’s stock worth $847,000 after purchasing an additional 102,216 shares in the last quarter. Vanguard Group Inc increased its holdings in Keane Group by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 4,167,693 shares of the company’s stock worth $51,555,000 after purchasing an additional 33,691 shares in the last quarter. Teachers Advisors LLC increased its holdings in Keane Group by 0.4% during the 3rd quarter. Teachers Advisors LLC now owns 1,208,542 shares of the company’s stock worth $14,950,000 after purchasing an additional 4,946 shares in the last quarter. Algert Global LLC bought a new position in Keane Group during the 4th quarter worth about $976,000. Finally, Prudential Financial Inc. bought a new position in Keane Group during the 4th quarter worth about $103,000. Institutional investors and hedge funds own 91.25% of the company’s stock.

In related news, insider James Carl Stewart sold 108,304 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $10.30, for a total value of $1,115,531.20. Following the completion of the sale, the insider now directly owns 260,027 shares in the company, valued at approximately $2,678,278.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Powell sold 43,271 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.57, for a total transaction of $457,374.47. Following the completion of the sale, the chief financial officer now owns 215,874 shares of the company’s stock, valued at $2,281,788.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,933 shares of company stock valued at $1,977,199. Company insiders own 0.51% of the company’s stock.

FRAC has been the subject of a number of research reports. Jefferies Financial Group upgraded Keane Group from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, March 15th. Zacks Investment Research upgraded Keane Group from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, March 5th. Piper Jaffray Companies set a $17.00 target price on Keane Group and gave the stock a “buy” rating in a report on Tuesday, March 5th. R. F. Lafferty reiterated a “buy” rating and set a $26.00 target price on shares of Keane Group in a report on Tuesday, February 26th. Finally, Goldman Sachs Group started coverage on shares of Keane Group in a research note on Sunday, March 10th. They set a “neutral” rating and a $12.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $16.62.

Keane Group stock opened at $11.85 on Friday. Keane Group Inc has a one year low of $7.44 and a one year high of $16.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.51 and a quick ratio of 1.34. The stock has a market cap of $1.24 billion, a PE ratio of 12.88 and a beta of 1.17.

Keane Group (NYSE:FRAC) last posted its quarterly earnings data on Monday, February 25th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.10. Keane Group had a net margin of 2.78% and a return on equity of 20.19%. The company had revenue of $486.55 million during the quarter, compared to the consensus estimate of $489.87 million. On average, sell-side analysts expect that Keane Group Inc will post -0.15 earnings per share for the current fiscal year.

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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. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

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Institutional Ownership by Quarter for Keane Group (NYSE:FRAC)

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