Trecora Resources (TREC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Trecora Resources (NYSE:TREC) from a hold rating to a buy rating in a research report sent to investors on Friday, March 9th. They currently have $12.00 price target 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. “

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Other analysts also recently issued research reports about the company. TheStreet downgraded Trecora Resources from a b- rating to a c+ rating in a research note on Friday, November 10th. B. Riley reiterated a buy rating on shares of Trecora Resources in a research note on Tuesday, March 6th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $14.67.

Shares of NYSE TREC traded down $0.45 during midday trading on Friday, reaching $13.15. The company had a trading volume of 46,802 shares, compared to its average volume of 58,869. The firm has a market cap of $330.56, a PE ratio of 30.91 and a beta of 1.33. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.49. Trecora Resources has a one year low of $10.13 and a one year high of $14.30.

Trecora Resources (NYSE:TREC) last posted its earnings results on Wednesday, March 7th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Trecora Resources had a return on equity of 4.42% and a net margin of 7.35%. The firm had revenue of $65.98 million for the quarter, compared to the consensus estimate of $59.67 million. equities research analysts forecast that Trecora Resources will post 0.81 earnings per share for the current fiscal year.

In other news, insider Nicholas Carter sold 10,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $13.74, for a total transaction of $137,400.00. Following the transaction, the insider now directly owns 477,536 shares of the company’s stock, valued at approximately $6,561,344.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Athel Fahad Mohammed Saleh Al sold 4,363 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.30, for a total value of $53,664.90. Following the completion of the transaction, the insider now directly owns 3,066,742 shares in the company, valued at $37,720,926.60. The disclosure for this sale can be found here. Insiders have sold a total of 144,553 shares of company stock worth $1,848,478 over the last three months. Insiders own 6.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of TREC. MetLife Investment Advisors LLC purchased a new stake in Trecora Resources in the 4th quarter worth $146,000. Alliancebernstein L.P. purchased a new stake in Trecora Resources in the 2nd quarter worth $147,000. Goldman Sachs Group Inc. purchased a new stake in Trecora Resources in the 4th quarter worth $180,000. The Manufacturers Life Insurance Company increased 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 worth $183,000 after buying an additional 54 shares in the last quarter. Finally, Unison Advisors LLC purchased a new stake in Trecora Resources in the 4th quarter worth $293,000. Institutional investors and hedge funds own 44.79% 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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