Hedge funds are becoming less confident with FRAC during the oil slump and the number of bullish hedge fund bets were trimmed by 1 lately. NYSE Stats also showed that FRAC isn’t among the 30 most popular stocks among hedge funds. FRAC was in 18 hedge funds’ portfolios at the end of the third quarter of 2018. There were 19 hedge funds in our database with FRAC holdings at the end of the previous quarter.
Among these funds, Cerberus Capital Management held the most valuable stake in Keane Group, Inc. (NYSE:FRAC), which was worth $467 million at the end of the third quarter. On the second spot was Omega Advisors which amassed $57.5 million worth of shares. Moreover, Millennium Management, Fisher Asset Management, and Citadel Investment Group were also bullish on Keane Group, Inc. (NYSE:FRAC), allocating a large percentage of their portfolios to this stock.
Although the oil industry has been hammered in recent weeks, Keane Group NYSE FRAC is better prepared than other mid-size fracking companies if prices do come back past 60. unlike like Liberty Oilfield Services Inc NYSE: LBRT, Keane Group NYSE:FRAC is more diversified in its oilfield services, The company has Wireline services, Cementing services, Hydraulic fracturing services. whereas LIBERTY FRAC NYSE: LBRT only does hydraulic pumping.
With approximately 1.2 million hydraulic horsepower, our experienced teams integrate the latest downhole fracturing technology with well-specific designs for fluids and equipment configurations to increase overall production. Keane is an experienced horizontal completions specialist with a primary focus on pumpdown plug and perforating. We execute a variety of completions-related wireline projects, including logging services and casing inspection. Keane offers experienced teams in major US basins and provides engineered cementing services to ensure effective zonal isolation and casing protection.