OR Royalties (NYSE:OR) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of OR Royalties (NYSE:OR) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

A number of other research firms also recently issued reports on OR. Zacks Research downgraded OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of OR Royalties in a research report on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $38.00 target price on shares of OR Royalties in a report on Sunday, December 7th. Scotiabank downgraded shares of OR Royalties from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd. Finally, Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, OR Royalties has an average rating of “Moderate Buy” and an average target price of $35.75.

OR Royalties Stock Up 2.1%

Shares of OR stock opened at $40.97 on Friday. OR Royalties has a 12-month low of $17.55 and a 12-month high of $42.25. The firm has a fifty day moving average of $34.93 and a 200-day moving average of $33.33. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 51.85 and a beta of 0.78.

OR Royalties (NYSE:OR) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. OR Royalties had a net margin of 60.72% and a return on equity of 10.67%. The firm had revenue of $71.63 million during the quarter, compared to analyst estimates of $53.85 million. On average, equities analysts expect that OR Royalties will post 0.62 EPS for the current year.

OR Royalties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.055 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. OR Royalties’s payout ratio is currently 27.85%.

Hedge Funds Weigh In On OR Royalties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its position in 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 buying an additional 440 shares during the last quarter. Vident Advisory LLC increased its holdings 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 acquiring an additional 820 shares during the last quarter. HighTower Advisors LLC raised its stake in OR Royalties by 1.4% in the 3rd quarter. HighTower Advisors LLC now owns 79,518 shares of the basic materials company’s stock valued at $3,187,000 after acquiring an additional 1,088 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in OR Royalties by 9.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,471 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 1,446 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in OR Royalties by 0.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 283,500 shares of the basic materials company’s stock worth $7,291,000 after purchasing an additional 1,500 shares during the period. 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.