Synergy Asset Management LLC Reduces Position in OR Royalties Inc. $OR

Key Points

• Synergy Asset Management LLC trimmed its stake in OR Royalties by 66.7% in Q4, selling 35,234 shares and leaving 17,617 shares valued at about $623,000.
• OR Royalties beat Q4 EPS expectations, reporting $0.32 per share vs. $0.31 expected, with revenue of $90.47M (slightly below estimates) and a net margin of 74.3%.
• The company declared a quarterly dividend of $0.055 (annualized $0.22, ~0.6% yield) payable April 15 (ex-dividend March 31); analysts' consensus is a "Moderate Buy" with a $38.25 target and institutional investors hold ~68.5% of shares.

Synergy Asset Management LLC trimmed its position in OR Royalties Inc. (NYSE:OR - Free Report) by 66.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,617 shares of the basic materials company's stock after selling 35,234 shares during the period. Synergy Asset Management LLC's holdings in OR Royalties were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its stake in OR Royalties by 7.1% during the 4th quarter. CWA Asset Management Group LLC now owns 408,918 shares of the basic materials company's stock valued at $14,472,000 after purchasing an additional 27,171 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of OR Royalties in the third quarter worth about $355,000. Polar Asset Management Partners Inc. lifted its holdings in shares of OR Royalties by 261.5% during the third quarter. Polar Asset Management Partners Inc. now owns 141,000 shares of the basic materials company's stock worth $5,652,000 after purchasing an additional 102,000 shares during the period. Virtus Advisers LLC acquired a new stake in shares of OR Royalties during the third quarter worth about $309,000. Finally, Verition Fund Management LLC boosted its position in OR Royalties by 0.3% in the third quarter. Verition Fund Management LLC now owns 632,705 shares of the basic materials company's stock valued at $25,359,000 after buying an additional 1,949 shares during the last quarter. Hedge funds and other institutional investors own 68.52% of the company's stock.

OR Royalties Price Performance

OR opened at $34.20 on Friday. The firm has a fifty day moving average price of $41.90 and a 200 day moving average price of $37.87. OR Royalties Inc. has a 1 year low of $18.99 and a 1 year high of $48.06. The stock has a market cap of $6.42 billion, a P/E ratio of 31.38 and a beta of 0.75.

OR Royalties (NYSE:OR - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $90.47 million during the quarter, compared to analysts' expectations of $90.80 million. OR Royalties had a net margin of 74.30% and a return on equity of 12.73%. Equities analysts expect that OR Royalties Inc. will post 0.62 EPS for the current year.

OR Royalties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.055 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.22 dividend on an annualized basis and a yield of 0.6%. OR Royalties's dividend payout ratio (DPR) is currently 20.18%.

Analyst Ratings Changes

Several equities analysts recently weighed in on OR shares. Scotiabank increased their price target on shares of OR Royalties from $41.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. Weiss Ratings restated a "buy (b)" rating on shares of OR Royalties in a research note on Monday, December 29th. Zacks Research raised shares of OR Royalties from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of OR Royalties from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of OR Royalties in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.25.

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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