OR Royalties Inc. $OR is Verbena Value LP’s 4th Largest Position

Verbena Value LP lifted its position in OR Royalties Inc. (NYSE:OR) by 85.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,294,900 shares of the basic materials company’s stock after buying an additional 596,000 shares during the period. OR Royalties makes up about 8.1% of Verbena Value LP’s portfolio, making the stock its 4th largest position. Verbena Value LP’s holdings in OR Royalties were worth $49,232,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 758,815 shares during the last quarter. Geode Capital Management LLC increased its stake in OR Royalties by 2.7% during the 2nd 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 in the last quarter. Cetera Investment Advisers raised its holdings in shares of OR Royalties by 3.5% in the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after buying an additional 440 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of OR Royalties by 58.3% in 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 last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of OR Royalties during the second quarter worth $1,051,000. Institutional investors own 68.52% of the company’s stock.

OR Royalties Price Performance

NYSE OR opened at $29.30 on Monday. OR Royalties Inc. has a 1 year low of $26.86 and a 1 year high of $48.06. The company has a market capitalization of $5.49 billion, a PE ratio of 21.86 and a beta of 0.74. The company has a fifty day moving average of $34.62 and a 200 day moving average of $38.38.

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 the consensus estimate of $0.34 by $0.06. The company had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. Research analysts expect that OR Royalties Inc. will post 1.35 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. OR Royalties’s dividend payout ratio (DPR) is currently 18.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OR shares. Weiss Ratings lowered shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Royal Bank Of Canada reduced their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Jefferies Financial Group dropped their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Finally, Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.75.

OR Royalties 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.