OR Royalties Inc. $OR Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC cut its stake in shares of OR Royalties Inc. (NYSE:OR) by 23.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 484,933 shares of the basic materials company’s stock after selling 147,772 shares during the period. Verition Fund Management LLC owned 0.26% of OR Royalties worth $17,162,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Linden Thomas Advisory Services LLC grew its stake in shares of OR Royalties by 4.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock valued at $221,000 after buying an additional 249 shares during the period. Wells Fargo & Company MN grew its stake in shares of OR Royalties by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock valued at $209,000 after buying an additional 346 shares during the period. Allworth Financial LP grew its stake in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after buying an additional 384 shares during the period. Cetera Investment Advisers grew its stake in shares of OR Royalties by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after buying an additional 440 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of OR Royalties by 2.0% during the 2nd quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock valued at $1,089,000 after buying an additional 820 shares during the period. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Trading Up 7.0%

Shares of OR Royalties stock opened at $36.20 on Tuesday. The company has a fifty day moving average price of $37.59 and a 200 day moving average price of $38.76. OR Royalties Inc. has a twelve month low of $24.76 and a twelve month high of $48.06. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 27.01 and a beta of 0.70.

OR Royalties (NYSE:OR) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. The firm had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. Analysts forecast that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. OR Royalties’s dividend payout ratio is currently 16.42%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Securities reissued a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings cut shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

About OR Royalties

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.