Trecora Resources (NYSE:TREC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $12.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price would suggest a potential downside of 12.41% from the company’s current price.

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. “

TREC has been the subject of several other reports. TheStreet downgraded shares of Trecora Resources from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. B. Riley reissued a “buy” rating on shares of Trecora Resources in a research note on Tuesday, March 6th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Trecora Resources presently has an average rating of “Buy” and an average target price of $14.67.

Shares of Trecora Resources (NYSE:TREC) opened at $13.70 on Friday. Trecora Resources has a fifty-two week low of $10.13 and a fifty-two week high of $14.30. The company has a current ratio of 1.66, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock has a market cap of $306.26, a price-to-earnings ratio of 19.03 and a beta of 1.60.

In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 30,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $12.82, for a total value of $384,600.00. Following the completion of the sale, the insider now directly owns 3,163,565 shares of the company’s stock, valued at $40,556,903.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 134,553 shares of company stock valued at $1,711,078 over the last three months. 6.60% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Trecora Resources during the fourth quarter valued at about $146,000. Alliancebernstein L.P. bought a new position in shares of Trecora Resources during the second quarter valued at about $147,000. Goldman Sachs Group Inc. bought a new position in shares of Trecora Resources during the fourth quarter valued at about $180,000. The Manufacturers Life Insurance Company raised its stake in shares of Trecora Resources by 0.3% during 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 acquiring an additional 54 shares during the last quarter. Finally, Unison Advisors LLC bought a new position in shares of Trecora Resources during the fourth quarter valued at about $293,000. 44.70% of the stock is owned by hedge funds and other institutional investors.

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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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