Oxbow Advisors LLC Takes Position in OR Royalties Inc. $OR

Oxbow Advisors LLC purchased a new position in OR Royalties Inc. (NYSE:OR) during the first quarter, HoldingsChannel reports. The firm purchased 96,499 shares of the basic materials company’s stock, valued at approximately $3,669,000.

Several other institutional investors also recently added to or reduced their stakes in OR. Goldman Sachs Group Inc. lifted its holdings in 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 boosted its position in 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 buying an additional 2,459 shares during the period. Cetera Investment Advisers grew its stake in 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 in the last quarter. JPMorgan Chase & Co. grew its stake in OR Royalties by 58.3% in the 2nd 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 position in OR Royalties in the 2nd quarter worth about $1,051,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.

Analysts Set New Price Targets

OR has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. Weiss Ratings cut OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.50.

OR Royalties Price Performance

NYSE:OR opened at $31.31 on Friday. OR Royalties Inc. has a 1-year low of $25.30 and a 1-year high of $48.06. The company has a 50-day moving average of $35.50 and a 200 day moving average of $38.58. The firm has a market cap of $5.87 billion, a PE ratio of 23.36 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 business had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. Sell-side analysts anticipate that OR Royalties Inc. will post 1.4 EPS for the current fiscal year.

OR Royalties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is currently 19.40%.

OR Royalties Company Profile

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.