Trecora Resources (NYSE:TREC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued 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 a number of other research reports. B. Riley reaffirmed a “buy” rating and set a $17.50 price objective on shares of Trecora Resources in a research report on Wednesday, May 3rd. Singular Research lowered their price objective on shares of Trecora Resources from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 27th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $15.13.

Shares of Trecora Resources (NYSE TREC) traded down 1.77% during mid-day trading on Thursday, hitting $11.10. The company had a trading volume of 31,913 shares. The firm has a market capitalization of $269.20 million, a price-to-earnings ratio of 20.22 and a beta of 1.56. The firm has a 50-day moving average price of $11.24 and a 200 day moving average price of $11.95. Trecora Resources has a 52-week low of $9.75 and a 52-week high of $14.80.

Trecora Resources (NYSE:TREC) last posted its quarterly earnings data on Thursday, May 4th. The basic materials company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. The firm had revenue of $55.54 million during the quarter, compared to analysts’ expectations of $55.73 million. Trecora Resources had a net margin of 6.24% and a return on equity of 5.62%. Analysts expect that Trecora Resources will post $0.44 earnings per share for the current year.

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In other news, CEO Simon H. Upfill-Brown acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $11.31 per share, with a total value of $56,550.00. Following the transaction, the chief executive officer now owns 68,322 shares in the company, valued at $772,721.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Mark D. Williamson sold 10,000 shares of Trecora Resources stock in a transaction on Monday, June 5th. The stock was sold at an average price of $10.90, for a total transaction of $109,000.00. Following the sale, the vice president now directly owns 24,277 shares of the company’s stock, valued at $264,619.30. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Trecora Resources by 8.5% in the first quarter. Wellington Management Group LLP now owns 2,873,014 shares of the basic materials company’s stock valued at $31,890,000 after buying an additional 225,893 shares during the period. Balter Liquid Alternatives LLC boosted its stake in Trecora Resources by 131.7% in the first quarter. Balter Liquid Alternatives LLC now owns 94,454 shares of the basic materials company’s stock valued at $1,048,000 after buying an additional 53,683 shares during the period. Friedberg Investment Management purchased a new stake in Trecora Resources during the first quarter valued at about $488,000. Renaissance Technologies LLC boosted its stake in Trecora Resources by 12.7% in the first quarter. Renaissance Technologies LLC now owns 249,500 shares of the basic materials company’s stock valued at $2,769,000 after buying an additional 28,100 shares during the period. Finally, State Street Corp boosted its stake in Trecora Resources by 6.9% in the fourth quarter. State Street Corp now owns 320,367 shares of the basic materials company’s stock valued at $4,439,000 after buying an additional 20,572 shares during the period. 35.66% of the stock is owned by institutional investors and hedge funds.

About Trecora Resources

Trecora Resources is engaged in manufacturing of specialty petrochemical products and synthetic waxes, and providing custom processing services. The Company operates through two segments: manufacturing of various specialty petrochemical products and manufacturing of specialty synthetic waxes. The specialty petrochemical products segment operates through South Hampton Resources, Inc (SHR).

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