Zacks Investment Research upgraded shares of Trecora Resources (NYSE:TREC) from a hold rating to a buy rating in a research report report published on Wednesday, July 5th. The firm currently has $13.00 price objective on the basic materials company’s stock.
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. Singular Research decreased their price target on shares of Trecora Resources from $18.00 to $16.00 and set a buy rating for the company in a research note on Thursday, April 27th. B. Riley restated a buy rating and set a $17.50 price target on shares of Trecora Resources in a research note on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $15.13.
Shares of Trecora Resources (NYSE:TREC) traded down 0.85% on Wednesday, reaching $11.60. 25,088 shares of the company traded hands. The firm has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.64. 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 $281.32 million, a PE ratio of 21.13 and a beta of 1.56.
Trecora Resources (NYSE:TREC) last announced its quarterly earnings results on Thursday, May 4th. The basic materials company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. The business had revenue of $55.54 million during the quarter, compared to analyst estimates of $55.73 million. Trecora Resources had a net margin of 6.24% and a return on equity of 5.62%. Equities analysts forecast that Trecora Resources will post $0.44 EPS for the current fiscal year.
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In other Trecora Resources news, VP Mark D. Williamson sold 10,000 shares of Trecora Resources stock in a transaction on Monday, June 5th. The shares were sold at an average price of $10.90, for a total transaction of $109,000.00. Following the transaction, the vice president now directly owns 24,277 shares of the company’s stock, valued at approximately $264,619.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela R. Butcher acquired 2,750 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $11.31 per share, for a total transaction of $31,102.50. Following the completion of the acquisition, the director now directly owns 2,500 shares in the company, valued at $28,275. The disclosure for this purchase can be found here. 6.60% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position 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 worth $31,890,000 after buying an additional 225,893 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Trecora Resources by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 31,797 shares of the basic materials company’s stock worth $440,000 after buying an additional 1,846 shares during the period. Legion Partners Asset Management LLC bought a new position in shares of Trecora Resources during the first quarter worth $157,000. Renaissance Technologies LLC increased its position in shares of Trecora Resources by 0.6% in the fourth quarter. Renaissance Technologies LLC now owns 221,400 shares of the basic materials company’s stock worth $3,066,000 after buying an additional 1,400 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Trecora Resources by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,958 shares of the basic materials company’s stock worth $9,071,000 after buying an additional 11,127 shares during the period. 35.65% of the stock is currently owned by hedge funds and other institutional investors.
Trecora Resources Company Profile
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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