Long Position on FRAC @ $19.30 on 1/12/2018 (Momentum)

Keane Group, Inc. (FRAC) 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, as well as other value-added services.

The company also provides coiled tubing, drilling, cementing, acidizing, and nitrogen services. Its customers primarily include integrated and large independent oil and natural gas exploration and production companies.

As of December 31, 2016, the company had 13 hydraulic fracturing fleets and 8 wireline trucks operating in unconventional oil and natural gas basins in the Permian Basin, the Marcellus Shale/Utica Shale, the SCOOP/STACK Formation, and the Bakken Formation. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Weeks Trading Range: $12.42 - $22.93

Entry Point: $19.30

Stop Loss: $18.33

Targer Price: $21.23

Updates

1/24/2018 10:36:12 AM

FRAC closed at $17.80. The company sold million of shares.

Position closed on 1/24/2018 at price of $17.80 with a -7.77% loss in 12 days.

Back to Portfolio