Cvfg LLC Acquires New Position in OR Royalties Inc. $OR

Cvfg LLC bought a new position in OR Royalties Inc. (NYSE:OR) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 60,356 shares of the basic materials company’s stock, valued at approximately $2,295,000.

Several other institutional investors also recently bought and sold shares of OR. Goldman Sachs Group Inc. boosted its holdings in shares of OR Royalties by 152.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock worth $26,539,000 after purchasing an additional 758,815 shares during the last quarter. Geode Capital Management LLC increased its stake in OR Royalties by 2.7% in the second quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock valued at $2,384,000 after purchasing an additional 2,459 shares during the last quarter. Cetera Investment Advisers increased its stake in OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 440 shares during the last quarter. JPMorgan Chase & Co. lifted its position in OR Royalties by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock worth $5,275,000 after buying an additional 75,596 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in OR Royalties during the second quarter worth about $1,051,000. 68.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on OR shares. Wall Street Zen cut OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Jefferies Financial Group decreased their target price on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday. Weiss Ratings downgraded shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Zacks Research lowered shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, OR Royalties presently has an average rating of “Moderate Buy” and an average target price of $45.50.

OR Royalties Price Performance

Shares of NYSE:OR opened at $30.07 on Wednesday. The business has a 50-day moving average of $35.11 and a two-hundred day moving average of $38.53. The firm has a market capitalization of $5.64 billion, a PE ratio of 22.44 and a beta of 0.74. OR Royalties Inc. has a 12 month low of $25.61 and a 12 month high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The business had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. As a group, research analysts anticipate 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. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.9%. 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. OR Royalties’s dividend payout ratio is presently 19.40%.

OR Royalties Company Profile

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.