Zacks Investment Research Lowers Trecora Resources (TREC) to Sell

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Zacks Investment Research cut shares of Trecora Resources (NYSE:TREC) from a hold rating to a sell rating in a report released on Wednesday morning.

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, TheStreet cut Trecora Resources from a b rating to a c+ rating in a report on Thursday, October 18th.

Shares of NYSE TREC traded down $0.92 on Wednesday, reaching $9.88. 1,530 shares of the company traded hands, compared to its average volume of 28,534. Trecora Resources has a fifty-two week low of $10.25 and a fifty-two week high of $15.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.03 and a quick ratio of 1.39. The company has a market cap of $266.66 million, a P/E ratio of 23.11 and a beta of 1.32.

Trecora Resources (NYSE:TREC) last posted its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.07). Trecora Resources had a net margin of 7.58% and a return on equity of 4.84%. The company had revenue of $68.11 million for the quarter, compared to analyst estimates of $70.30 million. As a group, equities research analysts anticipate that Trecora Resources will post 0.44 EPS for the current year.

Several large investors have recently modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of Trecora Resources by 9.4% during the 2nd quarter. California Public Employees Retirement System now owns 48,691 shares of the basic materials company’s stock worth $723,000 after purchasing an additional 4,191 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Trecora Resources by 11.4% during the 1st quarter. Wells Fargo & Company MN now owns 49,320 shares of the basic materials company’s stock worth $671,000 after purchasing an additional 5,050 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Trecora Resources by 15.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,945 shares of the basic materials company’s stock worth $609,000 after purchasing an additional 5,445 shares during the period. Price Capital Management Inc. purchased a new stake in shares of Trecora Resources during the 3rd quarter worth about $122,000. Finally, Luzich Partners LLC grew its holdings in shares of Trecora Resources by 0.8% during the 2nd quarter. Luzich Partners LLC now owns 1,180,009 shares of the basic materials company’s stock worth $17,523,000 after purchasing an additional 9,740 shares during the period. Institutional investors and hedge funds own 48.52% of the company’s stock.

About Trecora Resources

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.

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