SummitTX Capital L.P. Buys Shares of 179,129 OR Royalties Inc. $OR

SummitTX Capital L.P. purchased a new position in shares of OR Royalties Inc. (NYSE:OR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 179,129 shares of the basic materials company’s stock, valued at approximately $6,810,000.

Several other hedge funds have also made changes to their positions in OR. Linden Thomas Advisory Services LLC lifted its position in shares of 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 purchasing an additional 249 shares in the last quarter. FCA Corp TX grew its holdings in shares of OR Royalties by 0.8% in the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company’s stock valued at $1,507,000 after purchasing an additional 330 shares in the last quarter. Wells Fargo & Company MN increased its stake in 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 worth $209,000 after buying an additional 346 shares during the period. Allworth Financial LP increased its stake in 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 buying an additional 384 shares during the period. Finally, Cetera Investment Advisers increased its stake in OR Royalties by 3.5% during the 2nd 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 period. Institutional investors and hedge funds own 68.52% of the company’s stock.

Wall Street Analyst Weigh In

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

OR Royalties Price Performance

OR Royalties stock opened at $29.53 on Tuesday. The stock has a market cap of $5.53 billion, a PE ratio of 22.04 and a beta of 0.74. The stock’s fifty day moving average is $32.61 and its two-hundred day moving average is $37.81. OR Royalties Inc. has a 1-year low of $27.40 and a 1-year high of $48.06.

OR Royalties (NYSE:OR) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $102.83 million during the quarter, compared to analysts’ expectations of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. On average, research analysts expect that OR Royalties Inc. will post 1.27 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.065 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.9%. OR Royalties’s dividend payout ratio (DPR) is presently 18.66%.

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.