Verition Fund Management LLC Decreases Stake in OR Royalties Inc. $OR

Verition Fund Management LLC reduced its position in OR Royalties Inc. (NYSE:OR) by 23.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 484,933 shares of the basic materials company’s stock after selling 147,772 shares during the period. Verition Fund Management LLC’s holdings in OR Royalties were worth $17,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OR. Assetmark Inc. purchased a new position in OR Royalties in the 4th quarter valued at about $36,000. Caitlin John LLC purchased a new position in OR Royalties in the 3rd quarter valued at about $78,000. Allworth Financial LP boosted its position in OR Royalties by 20.0% in the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock valued at $82,000 after buying an additional 384 shares during the last quarter. Wells Fargo & Company MN boosted its position in OR Royalties by 6.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,901 shares of the basic materials company’s stock valued at $209,000 after buying an additional 346 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in OR Royalties in the 3rd quarter valued at about $215,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

OR Royalties Stock Performance

Shares of OR Royalties stock opened at $36.20 on Tuesday. The firm has a market cap of $6.79 billion, a PE ratio of 27.01 and a beta of 0.70. The firm’s 50-day simple moving average is $37.59 and its 200-day simple moving average is $38.76. OR Royalties Inc. has a 1 year low of $24.76 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (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 analyst estimates of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, equities analysts predict that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. OR Royalties’s dividend payout ratio (DPR) is currently 16.42%.

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.