Trecora Resources (TREC) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS
Trecora Resources (NYSE:TREC) released its quarterly earnings results on Tuesday. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07), reports. Trecora Resources had a net margin of 0.97% and a return on equity of 3.94%.
Trecora Resources (NYSE TREC) traded down $0.15 on Tuesday, hitting $11.75. 86,681 shares of the company were exchanged, compared to its average volume of 33,581. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.88 and a quick ratio of 1.30. Trecora Resources has a one year low of $9.75 and a one year high of $14.80. The company has a market capitalization of $297.72, a price-to-earnings ratio of 47.12 and a beta of 1.48.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 5,183 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $12.31, for a total transaction of $63,802.73. Following the transaction, the insider now directly owns 3,370,718 shares of the company’s stock, valued at $41,493,538.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 715,932 shares of company stock worth $9,034,411 over the last three months. 6.60% of the stock is owned by insiders.
A hedge fund recently raised its stake in Trecora Resources stock. The Manufacturers Life Insurance Company grew its holdings in Trecora Resources (NYSE:TREC) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,248 shares of the basic materials company’s stock after purchasing an additional 54 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Trecora Resources worth $183,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.28% of the company’s stock.
TREC has been the subject of several recent analyst reports. B. Riley reiterated a “buy” rating and set a $17.50 price objective on shares of Trecora Resources in a research report on Wednesday, August 2nd. TheStreet upgraded shares of Trecora Resources from a “c” rating to a “b-” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Trecora Resources from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, BidaskClub cut shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Trecora Resources currently has a consensus rating of “Hold” and a consensus target price of $15.00.
About Trecora Resources
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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