Trecora Resources (NYSE:TREC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

Several other research firms have also recently issued reports on TREC. B. Riley reiterated a “buy” rating and issued a $17.00 target price on shares of Trecora Resources in a research note on Monday, August 7th. BidaskClub lowered shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, TheStreet upgraded shares of Trecora Resources from a “c” rating to a “b-” rating in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.00.

Shares of Trecora Resources (NYSE TREC) traded down 0.38% on Wednesday, reaching $13.25. 13,697 shares of the company’s stock traded hands. Trecora Resources has a one year low of $9.75 and a one year high of $14.80. The company’s 50-day moving average price is $12.61 and its 200 day moving average price is $11.63. The firm has a market cap of $322.01 million, a P/E ratio of 77.94 and a beta of 1.58.

Trecora Resources (NYSE:TREC) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $62.12 million during the quarter, compared to the consensus estimate of $56.68 million. Trecora Resources had a net margin of 0.97% and a return on equity of 3.94%. On average, equities analysts forecast that Trecora Resources will post $0.31 EPS for the current fiscal year.

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In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $12.25, for a total value of $245,000.00. Following the transaction, the insider now directly owns 4,137,044 shares in the company, valued at $50,678,789. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 486,616 shares of company stock valued at $6,132,140 in the last three months. 6.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its position in Trecora Resources by 576.4% during the second quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 7,827 shares in the last quarter. TFS Capital LLC bought a new stake in Trecora Resources during the first quarter worth about $113,000. First Trust Advisors LP bought a new stake in Trecora Resources during the third quarter worth about $122,000. American International Group Inc. lifted its stake in Trecora Resources by 7.1% during the first quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 813 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Trecora Resources during the second quarter worth about $145,000. 41.55% of the stock is currently 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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