Zacks Investment Research upgraded shares of Trecora Resources (NYSE:TREC) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $12.00 price objective on the basic materials company’s stock.
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 topic of several other research reports. B. Riley reaffirmed a buy rating on shares of Trecora Resources in a research note on Tuesday, March 6th. TheStreet downgraded Trecora Resources from a b- rating to a c+ rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Trecora Resources has an average rating of Buy and a consensus price target of $14.67.
In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 31,463 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $13.23, for a total transaction of $416,255.49. Following the completion of the transaction, the insider now owns 3,204,906 shares in the company, valued at approximately $42,400,906.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 134,553 shares of company stock valued at $1,711,078. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Trecora Resources by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,248 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 54 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Trecora Resources by 1.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 55,392 shares of the basic materials company’s stock worth $623,000 after purchasing an additional 672 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Trecora Resources by 12.6% during the 4th quarter. Wells Fargo & Company MN now owns 44,270 shares of the basic materials company’s stock worth $598,000 after purchasing an additional 4,951 shares in the last quarter. Monarch Partners Asset Management LLC increased its holdings in Trecora Resources by 16.4% during the 4th quarter. Monarch Partners Asset Management LLC now owns 44,435 shares of the basic materials company’s stock worth $600,000 after purchasing an additional 6,275 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Trecora Resources by 29.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 35,500 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 8,100 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.
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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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