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

Trecora Resources (NYSE:TREC) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Wednesday, ValuEngine reports.

Separately, Roth Capital reissued a “buy” rating on shares of Trecora Resources in a report on Tuesday, August 6th.

Shares of TREC stock traded down $0.07 on Wednesday, reaching $7.21. The company’s stock had a trading volume of 41,449 shares, compared to its average volume of 46,073. The stock’s fifty day simple moving average is $8.37 and its 200-day simple moving average is $9.05. Trecora Resources has a 1 year low of $6.69 and a 1 year high of $10.54. The company has a current ratio of 3.31, a quick ratio of 2.80 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $190.30 million, a price-to-earnings 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 Trecora Resources stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.09, for a total transaction of $545,400.00. Following the completion of the transaction, the insider now directly owns 2,487,959 shares of the company’s stock, valued at $22,615,547.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 108,167 shares of company stock valued at $980,285. 3.92% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in Trecora Resources during the third quarter worth $167,000. State Street Corp boosted its stake in Trecora Resources by 1.2% during the third quarter. State Street Corp now owns 398,427 shares of the basic materials company’s stock worth $3,594,000 after buying an additional 4,839 shares during the period. Monarch Partners Asset Management LLC boosted its stake in Trecora Resources by 13.5% during the third quarter. Monarch Partners Asset Management LLC now owns 72,175 shares of the basic materials company’s stock worth $651,000 after buying an additional 8,560 shares during the period. California Public Employees Retirement System boosted its stake in Trecora Resources by 5.3% during the third quarter. California Public Employees Retirement System now owns 51,291 shares of the basic materials company’s stock worth $463,000 after buying an additional 2,600 shares during the period. Finally, Rhumbline Advisers boosted its stake in Trecora Resources by 8.7% during the third quarter. Rhumbline Advisers now owns 33,746 shares of the basic materials company’s stock worth $304,000 after buying an additional 2,691 shares during the period. 49.12% of the stock is owned by institutional investors.

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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