Trecora Resources (TREC) Stock Rating Lowered by Zacks Investment Research

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

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. “

A number of other equities research analysts have also recently commented on TREC. B. Riley reaffirmed a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Trecora Resources in a report on Wednesday, November 8th. TheStreet cut shares of Trecora Resources from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.75.

Trecora Resources (NYSE:TREC) traded up $0.25 during trading hours on Friday, hitting $14.05. 32,065 shares of the company were exchanged, compared to its average volume of 33,021. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.66 and a quick ratio of 1.21. The company has a market cap of $335.42, a PE ratio of 108.09 and a beta of 1.47. Trecora Resources has a 52 week low of $10.13 and a 52 week high of $14.30.

Trecora Resources (NYSE:TREC) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). Trecora Resources had a return on equity of 3.74% and a net margin of 1.37%. sell-side analysts anticipate that Trecora Resources will post 0.25 EPS for the current year.

In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 10,925 shares of Trecora Resources stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $12.39, for a total value of $135,360.75. Following the completion of the transaction, the insider now directly owns 3,467,908 shares in the company, valued at approximately $42,967,380.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 163,887 shares of company stock valued at $2,027,983 over the last quarter. 6.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TREC. Citigroup Inc. grew its stake in 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 in the last quarter. Alliancebernstein L.P. purchased a new position in Trecora Resources in the 2nd quarter valued at approximately $147,000. The Manufacturers Life Insurance Company grew its stake in 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 in the last quarter. First Quadrant L P CA purchased a new position in Trecora Resources in the 3rd quarter valued at approximately $207,000. Finally, Rhumbline Advisers grew its stake in Trecora Resources by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock valued at $271,000 after buying an additional 1,735 shares in the last quarter. Institutional investors and hedge funds own 42.73% of the company’s stock.

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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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