Trecora Resources (NYSE:TREC) – Stock analysts at B. Riley dropped their Q3 2019 earnings estimates for shares of Trecora Resources in a research report issued on Wednesday, May 8th. B. Riley analyst S. Sherbetchyan now anticipates that the basic materials company will earn $0.03 per share for the quarter, down from their previous forecast of $0.04. B. Riley currently has a “Buy” rating and a $14.00 target price on the stock. B. Riley also issued estimates for Trecora Resources’ Q4 2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.01 EPS and Q3 2020 earnings at $0.11 EPS.
Separately, Zacks Investment Research upgraded shares of Trecora Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday.
Shares of TREC stock opened at $10.21 on Thursday. Trecora Resources has a 12 month low of $6.69 and a 12 month high of $15.60. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 0.53.
Trecora Resources (NYSE:TREC) last issued its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.12. The business had revenue of $65.16 million for the quarter, compared to the consensus estimate of $71.10 million. Trecora Resources had a negative net margin of 0.81% and a positive return on equity of 0.12%.
A number of institutional investors have recently made changes to their positions in TREC. BNP Paribas Arbitrage SA boosted its stake in Trecora Resources by 503.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,341 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 3,622 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in Trecora Resources in the 4th quarter worth about $90,000. Bank of America Corp DE boosted its stake in Trecora Resources by 56.0% in the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 5,076 shares in the last quarter. Ridgewood Investments LLC bought a new position in Trecora Resources in the 1st quarter worth about $164,000. Finally, Rhumbline Advisers boosted its stake in Trecora Resources by 43.5% in the 4th quarter. Rhumbline Advisers now owns 29,777 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 9,030 shares in the last quarter. Institutional investors own 48.36% of the company’s stock.
In other news, CEO Patrick D. Quarles purchased 5,257 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $9.49 per share, for a total transaction of $49,888.93. Following the purchase, the chief executive officer now directly owns 55,257 shares in the company, valued at approximately $524,388.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick D. Quarles purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average price of $9.28 per share, for a total transaction of $92,800.00. Following the purchase, the insider now owns 9,370 shares in the company, valued at $86,953.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 56,315 shares of company stock worth $527,571 and have sold 126,617 shares worth $1,192,564. Insiders own 3.92% 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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