Trecora Resources (NYSE:TREC) Issues Earnings Results

Trecora Resources (NYSE:TREC) issued its earnings results on Monday. The basic materials company reported $0.10 earnings per share for the quarter, Bloomberg Earnings reports. The firm had revenue of $69.37 million during 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, reaching $9.38. The stock had a trading volume of 8,444 shares, compared to its average volume of 40,473. The stock has a fifty day simple moving average of $9.48. The company has a current ratio of 2.15, a quick ratio of 1.48 and a debt-to-equity ratio of 0.60. Trecora Resources has a 12 month low of $6.69 and a 12 month high of $14.45.

In other news, insider Patrick D. Quarles acquired 7,389 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average cost of $9.64 per share, for a total transaction of $71,229.96. Following the completion of the transaction, the insider now owns 94,205 shares of the company’s stock, valued at $908,136.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Athel Fahad Mohammed Saleh Al sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.15, for a total transaction of $609,000.00. Following the completion of the transaction, the insider now owns 2,864,973 shares of the company’s stock, valued at $29,079,475.95. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 49,198 shares of company stock valued at $481,749 and sold 241,740 shares valued at $2,366,749. 3.92% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TREC. BNP Paribas Arbitrage SA boosted its position in shares of Trecora Resources by 503.8% in the first quarter. BNP Paribas Arbitrage SA now owns 4,341 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 3,622 shares during the period. Bank of America Corp DE raised its stake in Trecora Resources by 56.0% in the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 5,076 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in Trecora Resources in the first quarter valued at approximately $164,000. Bank of New York Mellon Corp raised its stake in Trecora Resources by 8.0% in the fourth quarter. Bank of New York Mellon Corp now owns 91,584 shares of the basic materials company’s stock valued at $715,000 after purchasing an additional 6,760 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Trecora Resources by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 180,086 shares of the basic materials company’s stock valued at $1,404,000 after purchasing an additional 9,228 shares in the last quarter. Institutional investors own 44.30% of the company’s stock.

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

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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Earnings History for Trecora Resources (NYSE:TREC)

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