Verbena Value LP Increases Stock Holdings in OR Royalties Inc. $OR

Key Points

• Verbena Value LP boosted its stake in OR Royalties by 85.3% in the first quarter, buying an additional 596,000 shares and bringing its total to 1,294,900 shares worth about $49.2 million.
• OR Royalties reported better-than-expected quarterly earnings, posting $0.40 EPS versus the $0.34 consensus estimate, though revenue came in slightly below expectations at $102.83 million.
• The company also raised its quarterly dividend to $0.065 per share, up from $0.06, for an annualized yield of about 0.9%.

Verbena Value LP raised its holdings in shares of OR Royalties Inc. (NYSE:OR - Free Report) by 85.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,294,900 shares of the basic materials company's stock after purchasing an additional 596,000 shares during the quarter. OR Royalties accounts for approximately 8.1% of Verbena Value LP's investment portfolio, making the stock its 4th largest holding. Verbena Value LP owned approximately 0.69% of OR Royalties worth $49,232,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Linden Thomas Advisory Services LLC lifted its holdings in 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 valued at $221,000 after buying an additional 249 shares in the last quarter. Wells Fargo & Company MN grew its stake 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 worth $209,000 after acquiring an additional 346 shares in the last quarter. Allworth Financial LP increased its position in shares of OR Royalties by 20.0% during the fourth quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company's stock worth $82,000 after acquiring an additional 384 shares during the period. Cetera Investment Advisers increased its position in shares of OR Royalties by 3.5% during the second quarter. Cetera Investment Advisers now owns 13,147 shares of the basic materials company's stock worth $337,000 after acquiring an additional 440 shares during the period. Finally, FIL Ltd bought a new stake in shares of OR Royalties during the fourth quarter valued at approximately $29,000. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Stock Performance

NYSE OR opened at $29.30 on Monday. The firm's 50 day moving average price is $34.62 and its 200-day moving average price is $38.38. OR Royalties Inc. has a 52-week low of $26.86 and a 52-week high of $48.06. The company has a market cap of $5.49 billion, a PE ratio of 21.86 and a beta of 0.74.

OR Royalties (NYSE:OR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The company had revenue of $102.83 million during the quarter, compared to the consensus estimate of $103.27 million. OR Royalties had a net margin of 78.09% and a return on equity of 15.10%. On average, analysts forecast that OR Royalties Inc. will post 1.35 earnings per share for the current fiscal year.

OR Royalties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from OR Royalties's previous quarterly dividend of $0.06. OR Royalties's dividend payout ratio (DPR) is 18.66%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OR shares. Wall Street Zen lowered OR Royalties from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Weiss Ratings lowered OR Royalties from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 4th. Zacks Research cut OR Royalties from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Royal Bank Of Canada dropped their price target on OR Royalties from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group dropped their price target on OR Royalties from $40.00 to $34.00 and set a "hold" rating on the stock in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.75.

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.

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