Trecora Resources (NYSE:TREC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “
A number of other brokerages have also commented on TREC. B. Riley restated a “buy” rating and set a $18.00 price objective on shares of Trecora Resources in a research report on Monday, October 31st. Roth Capital set a $16.00 price objective on Trecora Resources and gave the stock a “buy” rating in a research report on Friday, October 28th. Finally, TheStreet upgraded Trecora Resources from a “hold” rating to a “buy” rating in a research report on Friday, July 15th.
Shares of Trecora Resources (NYSE:TREC) traded down 2.39% on Wednesday, reaching $12.25. 12,042 shares of the company were exchanged. The stock has a market capitalization of $296.72 million, a PE ratio of 14.41 and a beta of 1.00. Trecora Resources has a 1-year low of $8.17 and a 1-year high of $14.57. The company has a 50-day moving average price of $10.94 and a 200 day moving average price of $10.90.
Large investors have recently bought and sold shares of the company. First Trust Advisors LP purchased a new stake in Trecora Resources during the third quarter worth $122,000. BlackRock Advisors LLC increased its stake in Trecora Resources by 36.1% in the third quarter. BlackRock Advisors LLC now owns 12,030 shares of the company’s stock worth $137,000 after buying an additional 3,189 shares during the period. GSA Capital Partners LLP purchased a new stake in Trecora Resources during the second quarter worth $145,000. The Manufacturers Life Insurance Company purchased a new stake in Trecora Resources during the third quarter worth $172,000. Finally, Stanley Laman Group Ltd. increased its stake in Trecora Resources by 5.5% in the third quarter. Stanley Laman Group Ltd. now owns 15,460 shares of the company’s stock worth $177,000 after buying an additional 800 shares during the period. 33.72% of the stock is owned by institutional investors.
Trecora Resources Company Profile
Trecora Resources, formerly Arabian American Development Company, 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.