OR Royalties (NYSE:OR) Shares Pass Below 50 Day Moving Average – Here’s What Happened

OR Royalties Inc. (NYSE:OR)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $38.03 and traded as low as $33.67. OR Royalties shares last traded at $33.8130, with a volume of 1,196,706 shares.

Analysts Set New Price Targets

Several analysts recently commented on OR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OR Royalties in a research note on Friday, May 22nd. TD Securities reaffirmed a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Royal Bank Of Canada reaffirmed 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 downgraded OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, OR Royalties presently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Stock Performance

The company has a market cap of $6.34 billion, a P/E ratio of 25.23 and a beta of 0.70. The company has a fifty day moving average price of $38.03 and a two-hundred day moving average price of $38.69.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $103.27 million. Research analysts anticipate that OR Royalties Inc. will post 1.4 EPS 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 issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. OR Royalties’s dividend payout ratio is 16.42%.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds and other institutional investors have recently bought and sold shares of OR. Goldman Sachs Group Inc. grew its holdings in 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 period. Geode Capital Management LLC grew its holdings in OR Royalties by 2.7% during the second quarter. Geode Capital Management LLC now owns 92,267 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 2,459 shares during the period. Cetera Investment Advisers grew its holdings in OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 440 shares during the period. 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 acquiring an additional 75,596 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in OR Royalties during the second quarter worth approximately $1,051,000. Institutional investors own 68.52% of the company’s stock.

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.