Bank of America Corp DE Invests $2.24 Million in Keane Group Inc (NASDAQ:FRAC)
Bank of America Corp DE bought a new stake in Keane Group Inc (NASDAQ:FRAC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 156,677 shares of the company’s stock, valued at approximately $2,241,000. Bank of America Corp DE owned 0.15% of Keane Group at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in Keane Group during the first quarter valued at approximately $31,906,000. Omega Advisors Inc. bought a new stake in Keane Group during the first quarter valued at approximately $31,293,000. Ameriprise Financial Inc. bought a new stake in Keane Group during the first quarter valued at approximately $28,518,000. TimesSquare Capital Management LLC bought a new stake in Keane Group during the first quarter valued at approximately $22,338,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Keane Group during the first quarter valued at approximately $13,836,000.
Shares of Keane Group Inc (FRAC) traded down 1.89% on Friday, hitting $14.03. The stock had a trading volume of 958,606 shares. The company’s 50 day moving average price is $15.36 and its 200-day moving average price is $16.14. The company’s market cap is $1.57 billion. Keane Group Inc has a 12 month low of $12.42 and a 12 month high of $22.93.
Keane Group (NASDAQ:FRAC) last issued its quarterly earnings results on Monday, July 31st. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.06. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The company had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. The business’s quarterly revenue was up 34.5% on a year-over-year basis. On average, analysts expect that Keane Group Inc will post $0.10 earnings per share for the current year.
FRAC has been the topic of several analyst reports. R. F. Lafferty initiated coverage on Keane Group in a report on Wednesday, April 26th. They issued a “buy” rating and a $22.00 target price on the stock. Scotiabank set a $21.00 price target on Keane Group and gave the company a “hold” rating in a report on Thursday, May 4th. Nomura began coverage on Keane Group in a report on Wednesday, April 19th. They set a “neutral” rating and a $17.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Keane Group in a report on Wednesday, June 21st. Finally, Instinet reaffirmed a “neutral” rating and set a $17.00 price target on shares of Keane Group in a report on Wednesday, April 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.38.
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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