StockNews.com began coverage on shares of Trecora Resources (NYSE:TREC – Get Rating) in a research note released on Monday morning. The brokerage issued a buy rating on the basic materials company’s stock.
TREC opened at $8.25 on Monday. The company has a 50 day simple moving average of $8.65. The firm has a market cap of $204.89 million, a PE ratio of 41.25 and a beta of 0.48. Trecora Resources has a 12 month low of $7.46 and a 12 month high of $9.38. The company has a quick ratio of 2.60, a current ratio of 3.42 and a debt-to-equity ratio of 0.19.
A number of hedge funds have recently modified their holdings of TREC. Morgan Stanley raised its holdings in Trecora Resources by 1,795.3% during the second quarter. Morgan Stanley now owns 3,639 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 3,447 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Trecora Resources during the fourth quarter worth $81,000. PEAK6 Investments LLC purchased a new position in Trecora Resources during the third quarter worth $89,000. Advisor Group Holdings Inc. increased its position in Trecora Resources by 60.2% during the third quarter. Advisor Group Holdings Inc. now owns 13,695 shares of the basic materials company’s stock worth $111,000 after buying an additional 5,144 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Trecora Resources by 20.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 18,936 shares of the basic materials company’s stock worth $153,000 after buying an additional 3,208 shares in the last quarter. 59.35% of the stock is owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on Trecora Resources (TREC)
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