OR Royalties Inc. (NYSE:OR – Get Free Report) has been given an average recommendation of “Hold” by the nine ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.50.
Several research firms recently issued reports on OR. Royal Bank Of Canada cut their target price on OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered shares of OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research downgraded shares of OR Royalties from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen cut shares of OR Royalties from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Jefferies Financial Group reduced their price target on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, July 6th.
Get Our Latest Stock Report on OR
OR Royalties Stock Performance
OR Royalties (NYSE:OR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $102.83 million during the quarter, compared to analyst estimates of $103.27 million. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%. On average, equities research analysts predict that OR Royalties will post 1.27 earnings per share for the current year.
OR Royalties Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.065 dividend. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. OR Royalties’s dividend payout ratio (DPR) is presently 18.66%.
Institutional Trading of OR Royalties
Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of OR Royalties by 152.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,256,583 shares of the basic materials company’s stock valued at $26,539,000 after purchasing an additional 758,815 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 worth $2,384,000 after buying an additional 2,459 shares during the last quarter. Cetera Investment Advisers raised its position 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 valued at $337,000 after buying an additional 440 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of OR Royalties by 58.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 205,176 shares of the basic materials company’s stock valued at $5,275,000 after acquiring an additional 75,596 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in OR Royalties during the second quarter worth approximately $1,051,000. Institutional investors own 68.52% of the company’s stock.
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.
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