Trecora Resources (TREC) Receives Average Recommendation of “Hold” from Analysts
Trecora Resources (NYSE:TREC) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.33.
A number of brokerages have recently commented on TREC. Zacks Investment Research lowered shares of Trecora Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. B. Riley reissued a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Trecora Resources in a research report on Wednesday, November 8th. Finally, TheStreet lowered shares of Trecora Resources from a “b-” rating to a “c+” rating in a research report on Friday, November 10th.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 12,868 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $12.21, for a total transaction of $157,118.28. Following the transaction, the insider now directly owns 3,344,425 shares in the company, valued at $40,835,429.25. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 298,096 shares of company stock worth $3,745,650. 6.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in shares of Trecora Resources by 576.4% in the second quarter. Citigroup Inc. now owns 9,185 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 7,827 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Trecora Resources in the second quarter valued at $147,000. The Manufacturers Life Insurance Company increased its holdings in shares of Trecora Resources by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock valued at $183,000 after purchasing an additional 54 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Trecora Resources in the third quarter valued at $207,000. Finally, Rhumbline Advisers increased its holdings in shares of Trecora Resources by 7.7% in the second quarter. Rhumbline Advisers now owns 24,132 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 42.73% of the company’s stock.
Shares of Trecora Resources (NYSE:TREC) opened at $13.50 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The company has a market cap of $328.13, a price-to-earnings ratio of 103.85 and a beta of 1.47. Trecora Resources has a 1 year low of $10.13 and a 1 year high of $14.80.
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About Trecora Resources
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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