Morgan Stanley Sells 70,808 Shares of Keane Group Inc (NYSE:FRAC)

Morgan Stanley reduced its holdings in Keane Group Inc (NYSE:FRAC) by 51.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,601 shares of the company’s stock after selling 70,808 shares during the quarter. Morgan Stanley owned about 0.06% of Keane Group worth $441,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aperio Group LLC bought a new stake in Keane Group in the second quarter worth approximately $81,000. First Quadrant L P CA bought a new stake in shares of Keane Group during the second quarter valued at approximately $933,000. Covalent Partners LLC increased its holdings in shares of Keane Group by 44.4% during the second quarter. Covalent Partners LLC now owns 776,759 shares of the company’s stock valued at $5,220,000 after acquiring an additional 238,715 shares in the last quarter. CoreCommodity Management LLC increased its holdings in shares of Keane Group by 141.1% during the second quarter. CoreCommodity Management LLC now owns 95,141 shares of the company’s stock valued at $639,000 after acquiring an additional 55,685 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Keane Group by 1.6% during the second quarter. Vanguard Group Inc. now owns 4,032,668 shares of the company’s stock valued at $27,100,000 after acquiring an additional 63,512 shares in the last quarter. Institutional investors and hedge funds own 90.10% of the company’s stock.

Several equities research analysts have recently commented on the company. ValuEngine upgraded Keane Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Co decreased their price objective on Keane Group from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Zacks Investment Research upgraded Keane Group from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday, October 11th. R. F. Lafferty downgraded Keane Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Monday, September 9th. Finally, Citigroup downgraded Keane Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $11.54.

Keane Group stock traded up $0.22 during trading on Tuesday, hitting $5.37. 2,882,478 shares of the company were exchanged, compared to its average volume of 2,163,060. The business’s 50 day moving average is $5.27 and its 200 day moving average is $6.58. Keane Group Inc has a 52 week low of $4.40 and a 52 week high of $13.91. The company has a market capitalization of $563.74 million, a P/E ratio of 5.84 and a beta of 1.38. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 0.79.

About Keane Group

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

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

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