Trecora Resources (NYSE:TREC) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Trecora Resources (NYSE:TREC) from a hold rating to a buy rating in a research report released on Wednesday, ValuEngine reports.

Separately, Roth Capital reiterated a buy rating on shares of Trecora Resources in a research note on Tuesday, August 6th.

Shares of TREC opened at $7.43 on Wednesday. Trecora Resources has a 12 month low of $6.69 and a 12 month high of $10.54. The stock’s 50-day moving average is $8.31 and its two-hundred day moving average is $9.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.31 and a quick ratio of 2.80. The stock has a market cap of $178.20 million, a PE ratio of 85.56 and a beta of 1.19.

In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 60,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.09, for a total value of $545,400.00. Following the completion of the sale, the insider now owns 2,487,959 shares of the company’s stock, valued at $22,615,547.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 108,167 shares of company stock valued at $980,285. 3.92% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of TREC. Renaissance Technologies LLC grew its stake in shares of Trecora Resources by 2.3% during the second quarter. Renaissance Technologies LLC now owns 52,985 shares of the basic materials company’s stock valued at $507,000 after acquiring an additional 1,200 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Trecora Resources by 5.3% in the third quarter. California Public Employees Retirement System now owns 51,291 shares of the basic materials company’s stock worth $463,000 after acquiring an additional 2,600 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Trecora Resources by 8.7% in the third quarter. Rhumbline Advisers now owns 33,746 shares of the basic materials company’s stock worth $304,000 after acquiring an additional 2,691 shares in the last quarter. State Street Corp boosted its holdings in Trecora Resources by 1.2% in the third quarter. State Street Corp now owns 398,427 shares of the basic materials company’s stock valued at $3,594,000 after purchasing an additional 4,839 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Trecora Resources by 3.4% in the second quarter. Northern Trust Corp now owns 255,488 shares of the basic materials company’s stock valued at $2,445,000 after purchasing an additional 8,470 shares during the last quarter. Hedge funds and other institutional investors own 49.12% 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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