Parvin Asset Management LLC Invests $2.43 Million in OR Royalties Inc. $OR

Parvin Asset Management LLC acquired a new position in shares of OR Royalties Inc. (NYSE:OR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 68,750 shares of the basic materials company’s stock, valued at approximately $2,433,000. OR Royalties makes up approximately 1.9% of Parvin Asset Management LLC’s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds have also modified their holdings of the business. Linden Thomas Advisory Services LLC increased its stake in shares of OR Royalties by 4.1% during the 4th 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. Wells Fargo & Company MN increased its stake 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 worth $209,000 after purchasing an additional 346 shares in the last quarter. Allworth Financial LP increased its stake 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 worth $82,000 after purchasing an additional 384 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of 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 purchasing an additional 440 shares in the last quarter. Finally, Vident Advisory LLC increased its stake in shares of OR Royalties by 2.0% during the 2nd quarter. Vident Advisory LLC now owns 42,349 shares of the basic materials company’s stock worth $1,089,000 after purchasing an additional 820 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.

OR Royalties Stock Up 1.9%

Shares of OR opened at $36.84 on Wednesday. The firm has a market cap of $6.91 billion, a PE ratio of 27.50 and a beta of 0.70. The company’s fifty day moving average is $37.52 and its two-hundred day moving average is $38.78. OR Royalties Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $48.06.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $102.83 million for the quarter, compared to analyst estimates 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 anticipate that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. This is a positive change from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio (DPR) is presently 18.66%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. TD Securities reissued a “hold” rating on shares of OR Royalties in a research note on Monday, February 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $56.00 price objective on shares of OR Royalties in a research note on Friday, April 10th. Zacks Research cut shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings cut shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, OR Royalties has an average rating of “Moderate Buy” and a consensus target price of $46.50.

OR Royalties 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.