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 note issued to investors 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. “

Separately, B. Riley began coverage on shares of Trecora Resources in a research report on Tuesday, March 5th. They set a “buy” rating and a $14.00 price objective for the company.

TREC stock opened at $8.86 on Wednesday. Trecora Resources has a 52 week low of $6.69 and a 52 week high of $15.60. The company has a current ratio of 2.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.54.

A number of hedge funds have recently added to or reduced their stakes in TREC. Oregon Public Employees Retirement Fund bought a new position in Trecora Resources during the fourth quarter valued at $90,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Trecora Resources in the fourth quarter valued at $2,585,000. Uniplan Investment Counsel Inc. purchased a new stake in shares of Trecora Resources in the third quarter valued at $3,675,000. Dimensional Fund Advisors LP raised its stake in shares of Trecora Resources by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,056,755 shares of the basic materials company’s stock valued at $8,243,000 after acquiring an additional 92,005 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Trecora Resources by 8.7% in the third quarter. Vanguard Group Inc now owns 981,781 shares of the basic materials company’s stock valued at $13,745,000 after acquiring an additional 78,315 shares during the period. Institutional investors and hedge funds own 48.61% of the company’s stock.

Trecora Resources Company Profile

Trecora Resources manufactures and sells various specialty petrochemical products and synthetic waxes in the United States. The company operates in two segments, Petrochemical and Specialty Waxes. The Petrochemical segment offers hydrocarbons 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 industry.

Featured Story: What is a Candlestick Chart?

Get a free copy of the Zacks research report on Trecora Resources (TREC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Trecora Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trecora Resources and related companies with MarketBeat.com's FREE daily email newsletter.