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TREC Trecora Resources

Trecora Resources engages in the manufacture and sale of petrochemical products and synthetic waxes; and provision of custom processing services. It operates through the Petrochemical and Specialty Wax segments. The Petrochemical segment is conducted through South Hampton Resources, Inc. (SHR), which produces high purity hydrocarbons and other petroleum based products; and Gulf State Pipe Line Co, Inc., which owns and operates pipelines that connect the SHR facility to a natural gas line, to SHR's truck and rail loading terminal, and to a major petroleum products pipeline owned by a third party. The Specialty Wax segment is conducted through Trecora Chemical, Inc., which produces specialty polyethylene and poly alpha olefin waxes. The company was founded on May 4, 1967 and is headquartered in Sugar Land, TX.

Company profile

Ticker
TREC
Exchange
Website
CEO
Patrick Quarles
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
ARABIAN AMERICAN DEVELOPMENT CO, ARABIAN SHIELD DEVELOPMENT CO
SEC CIK
IRS number
751256622

TREC stock data

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Calendar

9 Mar 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 55.66M 55.66M 55.66M 55.66M 55.66M 55.66M
Cash burn (monthly) (positive/no burn) (positive/no burn) 132.67K (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 496.62K n/a n/a n/a
Cash remaining n/a n/a 55.17M n/a n/a n/a
Runway (months of cash) n/a n/a 415.8 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Mar 21 Tanner Joseph Michael Common stock Payment of exercise Dispose F No No 8.01 833 6.67K 12,394
11 Mar 21 Tanner Joseph Michael Common stock Option exercise Aquire M No No 0 3,333 0 13,227
11 Mar 21 Tanner Joseph Michael RSU Common stock Option exercise Dispose M No No 8.01 3,333 26.7K 59,113
25 Feb 21 Quarles Patrick D. RSU Common stock Grant Aquire A No No 7.12 128,659 916.05K 313,840
25 Feb 21 Tanner Joseph Michael RSU Common stock Grant Aquire A No No 7.12 23,174 165K 62,446
25 Feb 21 Ahmad Sami RSU Common stock Grant Aquire A No No 7.12 26,230 186.76K 70,558
25 Feb 21 Loggenberg Peter Matthews Restricted Common Stock Common stock Grant Aquire A No No 7.12 24,983 177.88K 70,608

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

72.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 64 58 +10.3%
Opened positions 8 2 +300.0%
Closed positions 2 9 -77.8%
Increased positions 28 23 +21.7%
Reduced positions 20 22 -9.1%
13F shares
Current Prev Q Change
Total value 174.4M 113.94M +53.1%
Total shares 17.92M 13.22M +35.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Wellington Management 3.43M $24.01M -0.7%
WELLINGTON TRUST Co N A 3.37M $23.58M NEW
Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio 1.64M $11.47M NEW
BLK Blackrock 1.28M $8.91M +7.3%
Dimensional Fund Advisors 1.24M $8.67M -0.1%
Vanguard 969.33K $6.78M -26.8%
Royce & Associates 829.36K $5.8M -30.0%
Rutabaga Capital Management 715.29K $5M +6.6%
Yacktman Asset Management 636.02K $4.45M +52.2%
STT State Street 415.66K $2.91M -0.3%
Largest transactions
Shares Bought/sold Change
WELLINGTON TRUST Co N A 3.37M +3.37M NEW
Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio 1.64M +1.64M NEW
22NW 0 -501.22K EXIT
Royce & Associates 829.36K -355.54K -30.0%
Vanguard 969.33K -354.87K -26.8%
Yacktman Asset Management 636.02K +218.02K +52.2%
Bard Associates 383.88K +206.81K +116.8%
First Wilshire Securities Management 357.43K +204.37K +133.5%
BLK Blackrock 1.28M +87.03K +7.3%
Renaissance Technologies 184.89K +81.2K +78.3%

Financial report summary

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Risks
  • We rely on a limited number of customers, including one customer that represented more than 10% of our consolidated revenue in 2020. A significant change in customer relationships or in customer demand for our products could materially adversely affect our results of operations, financial condition and cash flows.
  • Our industry is highly competitive, and we may lose market share to other producers of specialty petrochemicals, specialty waxes or other products that can be substituted for our products, which may adversely affect our results of operations, financial condition and cash flows.
  • Loss of key employees, our inability to attract and retain new qualified employees or our inability to keep our employees focused on our strategies and goals could have an adverse impact on our operations.
  • If the availability of our raw materials is limited, we may be unable to produce some of our products in quantities sufficient to meet customer demand or on favorable economic terms, which could have an adverse effect on our results of operations, financial condition and cash flows.
  • Increases in the costs of our raw materials could have an adverse effect on our financial condition and results of operations if those costs cannot be passed onto our customers.
  • If we are unable to access third-party transportation for our raw materials and finished products, we may not be able to fulfill our obligations to our customers in a timely manner, which could have a material adverse effect on our results of operations, financial condition and cash flows.
  • Failure to successfully consummate extraordinary transactions, including the integration of other businesses, assets, products or technologies, or realize the financial and strategic goals that were contemplated at the time of any such transaction may adversely affect our future business, results of operations and financial condition.
  • Maintenance, expansion and refurbishment of our facilities and the development and implementation of new manufacturing processes involve significant risks which may adversely affect our business, results of operations, financial condition and cash flows.
  • There are certain hazards and risks inherent in our operations that could adversely affect those operations and results of operations and financial condition.
  • Conditions in the global economy may adversely affect our results of operations, financial condition and cash flows.
  • The global outbreak of COVID-19 has had, and may continue to have, an adverse impact on the business, results of operations, financial position, and liquidity of the Company and/or its customers, suppliers, and other counterparties.
  • Domestic or international natural disasters or other severe weather events, health epidemics or pandemics or terrorist attacks may disrupt our operations or those of our customers or suppliers, decrease demand for our products or otherwise have an adverse impact on our business.
  • We are exposed to local business risks in different countries, which could have a material adverse effect on our financial condition and results of operations.
  • Certain activist stockholders actions could cause us to incur expense and hinder execution of our strategy.
  • Delaware law and certain provisions of our organizational documents may make a takeover of our company more difficult.
  • We are subject to numerous regulations that could require us to modify our current business practices and incur increased costs.
  • Adverse results of legal proceedings could materially adversely affect us.
  • We expect to continue to incur capital expenditures and operating costs as a result of our compliance with existing and future environmental laws and regulations.
  • The adoption of climate change legislation or regulation could result in increased operating costs and reduced demand for our products.
  • Increased information systems security threats and more sophisticated and targeted computer crime could pose a risk to our systems, networks, products and services.
  • If we are not able to continue the technological innovation and successful commercial introduction of new products, our customers may turn to other producers to meet their requirements, which may adversely affect our results of operations, financial condition and cash flows.
  • Ineffectiveness of our enterprise resource planning (“ERP”) system may adversely affect our business and results of operations or the effectiveness of internal controls over financial reporting.
  • Changes in tax laws or exposure to additional income tax liabilities could affect our future profitability.
  • The covenants in the instruments that govern our outstanding indebtedness may limit our operating and financial flexibility.
  • Our indebtedness could limit cash flow available for our operations and could adversely affect our ability to service debt or obtain additional financing if necessary.
  • To service our current, and any future, indebtedness, we will require a significant amount of cash, which may adversely affect our future results.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
Management Discussion
  • Our Annual Report on Form 10-K for the year ended December 31, 2019 includes a discussion and analysis of our financial condition and results of operations for the year ended December 31, 2018 in Item 7 of Part II, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
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