Norges Bank Takes $88.60 Million Position in OR Royalties Inc. $OR

Norges Bank purchased a new stake in OR Royalties Inc. (NYSE:OR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,501,068 shares of the basic materials company’s stock, valued at approximately $88,597,000. Norges Bank owned 1.34% of OR Royalties at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OR. Van ECK Associates Corp increased its stake in shares of OR Royalties by 20.5% in the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after buying an additional 2,650,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of OR Royalties by 39.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after buying an additional 2,124,421 shares during the period. Goldman Sachs Group Inc. increased its stake 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 buying an additional 758,815 shares during the period. Invesco Ltd. increased its stake in shares of OR Royalties by 85.3% in the third quarter. Invesco Ltd. now owns 1,543,366 shares of the basic materials company’s stock valued at $61,858,000 after buying an additional 710,654 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of OR Royalties by 25.4% in the third quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock valued at $94,098,000 after buying an additional 474,840 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.

OR Royalties Stock Performance

OR stock opened at $33.81 on Friday. The stock’s 50 day simple moving average is $38.03 and its 200 day simple moving average is $38.69. OR Royalties Inc. has a fifty-two week low of $24.76 and a fifty-two week high of $48.06. The company has a market cap of $6.34 billion, a P/E ratio of 25.23 and a beta of 0.70.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The business had revenue of $102.83 million for the quarter, compared to the consensus estimate of $103.27 million. Equities analysts predict that OR Royalties Inc. will post 1.4 earnings per share for the current year.

OR Royalties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. This is an increase from OR Royalties’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. OR Royalties’s dividend payout ratio (DPR) is currently 16.42%.

Analyst Upgrades and Downgrades

OR has been the subject of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $56.00 price target on shares of OR Royalties in a research note on Friday, April 10th. Zacks Research cut OR Royalties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Securities restated a “hold” rating on shares of OR Royalties in a research report on Monday, February 23rd. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.50.

OR Royalties 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.