Cvfg LLC Invests $2.29 Million in OR Royalties Inc. $OR

Cvfg LLC acquired a new stake in OR Royalties Inc. (NYSE:OR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 60,356 shares of the basic materials company’s stock, valued at approximately $2,295,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC grew its position in OR Royalties by 4.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,254 shares of the basic materials company’s stock worth $221,000 after buying an additional 249 shares during the period. Wells Fargo & Company MN lifted its position 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 acquiring an additional 346 shares during the period. Allworth Financial LP boosted 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 worth $82,000 after acquiring an additional 384 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of OR Royalties by 3.5% in the 2nd quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 440 shares during the period. Finally, FIL Ltd acquired a new stake in shares of OR Royalties in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on OR. Weiss Ratings cut OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Jefferies Financial Group dropped their price target on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

OR Royalties Stock Performance

OR stock opened at $30.07 on Wednesday. The stock’s 50 day moving average price is $35.11 and its 200 day moving average price is $38.53. The firm has a market cap of $5.64 billion, a P/E ratio of 22.44 and a beta of 0.74. OR Royalties Inc. has a 1 year low of $25.61 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last released 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. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The company had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. On average, research analysts predict that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is presently 19.40%.

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.