Oxbow Advisors LLC Purchases New Shares in OR Royalties Inc. $OR

Oxbow Advisors LLC acquired a new stake in shares of 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 96,499 shares of the basic materials company’s stock, valued at approximately $3,669,000. Oxbow Advisors LLC owned about 0.05% of OR Royalties as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of OR Royalties by 152.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after buying an additional 758,815 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of OR Royalties by 2.7% in 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 acquiring an additional 2,459 shares during the last quarter. Cetera Investment Advisers grew its position 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 worth $337,000 after acquiring an additional 440 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 75,596 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in OR Royalties during the second quarter worth approximately $1,051,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, OR Royalties currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Trading Down 0.4%

OR stock opened at $31.31 on Friday. The stock has a market cap of $5.87 billion, a PE ratio of 23.36 and a beta of 0.74. OR Royalties Inc. has a 12 month low of $25.30 and a 12 month high of $48.06. The company has a 50-day moving average price of $35.50 and a 200 day moving average price of $38.58.

OR Royalties (NYSE:OR) last posted its quarterly earnings data 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. The company had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Sell-side analysts forecast 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 paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is 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.