Fracker Keane Group $FRAC Earnings Mixed, Higher on Revenue

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Jefferies Rates Keane Group $FRAC as one of top picks of 2018

Sees Keane Group aso ne of the largest pure-play pressure pumping companies in the United States, with the bulk of its revenue derived from its hydraulic fracturing and wireline businesses. Revenues in 2017 totaled $1.53 billion.

Jefferies says has slightly underperformed its peers and may be offering a solid value at current levels. Late last year the company announced a new asset-based revolving credit facility, which expands Keane’s total availability by $150 million to a total of $300 million, subject to a borrowing base. In addition, subject to approval by the applicable lenders and other customary conditions, the New ABL Facility allows for an increase in commitments of up to an additional $150 million, up from a previous amount of up to $75 million.

$24 Jefferies price target – shares closed monday at $15.21 apiece.