Trecora Resources (NYSE:TREC) Issues Earnings Results

Trecora Resources (NYSE:TREC) released its earnings results on Monday. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. The company had revenue of $69.37 million for the quarter, compared to analyst estimates of $68.05 million. Trecora Resources had a negative net margin of 1.04% and a negative return on equity of 0.07%.

Shares of TREC stock traded up $0.69 during trading hours on Tuesday, hitting $9.38. 8,444 shares of the company were exchanged, compared to its average volume of 40,473. Trecora Resources has a 1 year low of $6.69 and a 1 year high of $14.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.15 and a quick ratio of 1.48. The business’s fifty day moving average price is $9.48.

Separately, Zacks Investment Research upgraded shares of Trecora Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 8th.

In other news, major shareholder Athel Fahad Mohammed Saleh Al sold 2,680 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $10.00, for a total transaction of $26,800.00. Following the transaction, the insider now directly owns 2,814,993 shares in the company, valued at approximately $28,149,930. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick D. Quarles acquired 4,873 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $9.70 per share, for a total transaction of $47,268.10. Following the completion of the acquisition, the chief executive officer now owns 63,223 shares in the company, valued at $613,263.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 49,198 shares of company stock worth $481,749 and have sold 241,740 shares worth $2,366,749. Corporate insiders own 3.92% of the company’s stock.

Several hedge funds have recently made changes to their positions in TREC. Ridgewood Investments LLC boosted its position in Trecora Resources by 35.8% during the second quarter. Ridgewood Investments LLC now owns 24,500 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 6,464 shares during the last quarter. Tieton Capital Management LLC boosted its position in Trecora Resources by 64.3% during the first quarter. Tieton Capital Management LLC now owns 471,265 shares of the basic materials company’s stock valued at $4,284,000 after purchasing an additional 184,475 shares during the last quarter. Rutabaga Capital Management LLC MA boosted its position in Trecora Resources by 99.1% during the first quarter. Rutabaga Capital Management LLC MA now owns 528,131 shares of the basic materials company’s stock valued at $4,801,000 after purchasing an additional 262,843 shares during the last quarter. Royce & Associates LP boosted its position in Trecora Resources by 4.2% during the first quarter. Royce & Associates LP now owns 533,678 shares of the basic materials company’s stock valued at $4,851,000 after purchasing an additional 21,278 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Trecora Resources by 503.8% during the first quarter. BNP Paribas Arbitrage SA now owns 4,341 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 3,622 shares during the last quarter. Institutional investors and hedge funds own 44.30% 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.

See Also: Quiet Period

Earnings History for Trecora Resources (NYSE:TREC)

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