Parvin Asset Management LLC Acquires Shares of 68,935 OR Royalties Inc. $OR

Parvin Asset Management LLC purchased a new stake in OR Royalties Inc. (NYSE:OR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68,935 shares of the basic materials company’s stock, valued at approximately $2,180,000. OR Royalties comprises 1.7% of Parvin Asset Management LLC’s holdings, making the stock its 7th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. FCA Corp TX increased its holdings in shares of OR Royalties by 0.8% during the first quarter. FCA Corp TX now owns 39,647 shares of the basic materials company’s stock worth $1,507,000 after purchasing an additional 330 shares during the period. Wells Fargo & Company MN grew its holdings in shares of 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 valued at $209,000 after purchasing an additional 346 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 384 shares in the last quarter. Cetera Investment Advisers boosted its position 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. Finally, State of Wyoming bought a new stake in shares of OR Royalties in the first quarter worth $28,000. Institutional investors own 68.52% of the company’s stock.

OR Royalties Trading Down 1.3%

Shares of OR Royalties stock opened at $38.42 on Thursday. OR Royalties Inc. has a 52 week low of $27.54 and a 52 week high of $48.06. The stock has a 50 day moving average price of $31.74 and a two-hundred day moving average price of $36.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market capitalization of $7.16 billion, a PE ratio of 25.61 and a beta of 0.75.

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

OR Royalties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.7%. OR Royalties’s dividend payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Scotiabank decreased their target price on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Jefferies Financial Group lowered their price objective on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Zacks Research cut OR Royalties from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen downgraded OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings lowered OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, OR Royalties has a consensus rating of “Hold” and a consensus price target of $40.50.

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.