Parvin Asset Management LLC Acquires New Shares in OR Royalties Inc. $OR

Parvin Asset Management LLC acquired a new position in shares of OR Royalties Inc. (NYSE:OR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 68,935 shares of the basic materials company’s stock, valued at approximately $2,180,000. OR Royalties comprises about 1.7% of Parvin Asset Management LLC’s investment portfolio, making the stock its 7th biggest position.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of OR Royalties by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 7,847,015 shares of the basic materials company’s stock worth $277,965,000 after purchasing an additional 167,970 shares during the last quarter. Bank of America Corp DE raised its stake in shares of OR Royalties by 37.4% during the first quarter. Bank of America Corp DE now owns 1,008,086 shares of the basic materials company’s stock valued at $38,327,000 after purchasing an additional 274,486 shares during the period. U S Global Investors Inc. raised its position in shares of OR Royalties by 55.8% in the 1st quarter. U S Global Investors Inc. now owns 534,625 shares of the basic materials company’s stock valued at $20,326,000 after purchasing an additional 191,380 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in OR Royalties by 4.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 389,844 shares of the basic materials company’s stock worth $13,815,000 after purchasing an additional 15,730 shares in the last quarter. Finally, Amundi increased its holdings in shares of OR Royalties by 8.4% in the 1st quarter. Amundi now owns 1,151,071 shares of the basic materials company’s stock valued at $43,764,000 after acquiring an additional 89,202 shares during the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OR shares. Jefferies Financial Group dropped their price target on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Wall Street Zen downgraded shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research downgraded OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Scotiabank lowered their target price on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued 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 presently has an average rating of “Hold” and a consensus price target of $40.50.

OR Royalties Price Performance

Shares of NYSE:OR opened at $38.42 on Thursday. The business has a 50 day moving average price of $31.74 and a 200 day moving average price of $36.49. OR Royalties Inc. has a twelve month low of $27.54 and a twelve month high of $48.06. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 25.61 and a beta of 0.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

OR Royalties (NYSE:OR) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. OR Royalties had a return on equity of 16.41% and a net margin of 78.04%.The business had revenue of $97.82 million for the quarter, compared to the consensus estimate of $97.93 million. Research analysts predict that OR Royalties Inc. will post 1.25 earnings per share for the current year.

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.065 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.26 annualized dividend and a yield of 0.7%. OR Royalties’s dividend payout ratio (DPR) is 16.67%.

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.