Trecora Resources (TREC) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Trecora Resources (NYSE:TREC) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Trecora Resources owns and operates a petrochemical facility located in southeast Texas. It produces petrochemical solvents and other petroleum based products, including isopentane, normal pentane, isohexane, and hexane for use in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industries. The Company also owns undeveloped mineral properties, primarily in Saudi Arabia. Trecora Resources, formerly known as Arabian American Development Company, is based in Sugar Land, Texas. “
TREC has been the subject of several other research reports. TheStreet raised shares of Trecora Resources from a c rating to a b- rating in a research report on Monday, July 17th. BidaskClub downgraded shares of Trecora Resources from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Finally, B. Riley reissued a buy rating and issued a $17.00 target price on shares of Trecora Resources in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $15.00.
Trecora Resources (NYSE TREC) traded up 0.79% during trading on Thursday, reaching $12.75. The company had a trading volume of 36,825 shares. The stock has a 50 day moving average price of $12.73 and a 200-day moving average price of $11.73. The company has a market capitalization of $309.86 million, a PE ratio of 75.00 and a beta of 1.58. Trecora Resources has a 52-week low of $9.75 and a 52-week high of $14.80.
Trecora Resources (NYSE:TREC) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). The company had revenue of $62.12 million during the quarter, compared to the consensus estimate of $56.68 million. Trecora Resources had a return on equity of 3.94% and a net margin of 0.97%. On average, equities research analysts anticipate that Trecora Resources will post $0.31 earnings per share for the current fiscal year.
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In other news, major shareholder Athel Fahad Mohammed Saleh Al sold 13,100 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $12.68, for a total value of $166,108.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 577,417 shares of company stock valued at $7,302,004 in the last three months. Insiders own 6.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TREC. Citigroup Inc. boosted its holdings in shares of Trecora Resources by 576.4% in the 2nd quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock valued at $104,000 after buying an additional 7,827 shares during the period. American International Group Inc. boosted its holdings in shares of Trecora Resources by 7.1% in the 1st quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock valued at $136,000 after buying an additional 813 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Trecora Resources in the 2nd quarter valued at about $147,000. Legion Partners Asset Management LLC acquired a new position in shares of Trecora Resources in the 1st quarter valued at about $157,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Trecora Resources by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock valued at $183,000 after buying an additional 54 shares during the period. 41.55% of the stock is owned by institutional investors and hedge funds.
Trecora Resources Company Profile
Trecora Resources (TREC) is a provider of high-purity specialty hydrocarbons and waxes. TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high-purity hydrocarbons and other petrochemical manufacturing. The Company operates through two segments: specialty petrochemical products and specialty synthetic waxes.
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