Extract Advisors LLC Lowers Holdings in OR Royalties Inc. $OR

Extract Advisors LLC decreased its position in shares of OR Royalties Inc. (NYSE:OR) by 20.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 155,316 shares of the basic materials company’s stock after selling 40,341 shares during the quarter. OR Royalties makes up approximately 2.1% of Extract Advisors LLC’s portfolio, making the stock its 13th biggest position. Extract Advisors LLC’s holdings in OR Royalties were worth $5,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of OR Royalties by 3.8% in the first quarter. The Manufacturers Life Insurance Company now owns 635,500 shares of the basic materials company’s stock valued at $24,176,000 after acquiring an additional 23,319 shares in the last quarter. SummitTX Capital L.P. bought a new stake in shares of OR Royalties in the 1st quarter valued at about $6,810,000. Themes Management Co LLC bought a new stake in shares of OR Royalties in the 1st quarter valued at about $247,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of OR Royalties in the 1st quarter worth approximately $1,912,000. Finally, Renaissance Technologies LLC lifted its position in shares of OR Royalties by 86.2% in the 1st quarter. Renaissance Technologies LLC now owns 783,302 shares of the basic materials company’s stock worth $29,781,000 after purchasing an additional 362,700 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.

OR Royalties Stock Up 1.1%

Shares of OR Royalties stock opened at $29.53 on Tuesday. The firm’s 50 day moving average price is $32.61 and its 200-day moving average price is $37.81. OR Royalties Inc. has a 52-week low of $27.40 and a 52-week high of $48.06. The company has a market cap of $5.53 billion, a P/E ratio of 22.04 and a beta of 0.74.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. As a group, equities research analysts forecast that OR Royalties Inc. will post 1.27 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.065 dividend. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. OR Royalties’s dividend payout ratio is 18.66%.

Wall Street Analysts Forecast Growth

OR has been the topic of several research reports. Royal Bank Of Canada cut their price objective on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Scotiabank cut their price target on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Zacks Research lowered OR Royalties from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group decreased their price objective on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, OR Royalties currently has an average rating of “Hold” and a consensus price target of $40.50.

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.