Trecora Resources (TREC) Posts Earnings Results, Misses Expectations By $0.07 EPS
Trecora Resources (NYSE:TREC) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07), reports. Trecora Resources had a return on equity of 3.94% and a net margin of 0.97%.
Trecora Resources (NYSE:TREC) traded down $0.15 during mid-day trading on Tuesday, reaching $11.75. 86,681 shares of the company were exchanged, compared to its average volume of 33,581. The firm has a market cap of $297.72, a PE ratio of 47.12 and a beta of 1.48. Trecora Resources has a twelve month low of $9.75 and a twelve month high of $14.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.30 and a current ratio of 1.88.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Trecora Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Trecora Resources in a report on Monday, August 7th. BidaskClub downgraded shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, TheStreet raised shares of Trecora Resources from a “c” rating to a “b-” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $15.00.
In related news, major shareholder Athel Fahad Mohammed Saleh Al sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $12.25, for a total transaction of $245,000.00. Following the completion of the transaction, the insider now directly owns 4,137,044 shares in the company, valued at approximately $50,678,789. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 715,932 shares of company stock valued at $9,034,411. 6.60% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Trecora Resources stock. The Manufacturers Life Insurance Company increased its stake in shares of Trecora Resources (NYSE:TREC) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the basic materials company’s stock after purchasing an additional 54 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Trecora Resources worth $183,000 at the end of the most recent reporting period. 41.28% of the stock is owned by institutional investors and hedge funds.
Trecora Resources Company Profile
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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