Blue Owl Capital (NYSE:OBDC) Price Target Cut to $17.00 by Analysts at Truist Financial

Blue Owl Capital (NYSE:OBDC) had its price objective cut by Truist Financial from $18.00 to $17.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on OBDC. Raymond James cut Blue Owl Capital from an outperform rating to a market perform rating in a report on Friday. Hovde Group upped their price objective on Blue Owl Capital from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, May 10th. Royal Bank of Canada upped their price objective on Blue Owl Capital from $16.00 to $17.00 and gave the company an outperform rating in a report on Friday, May 17th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and issued a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital has a consensus rating of Hold and an average price target of $16.00.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock traded down $0.08 on Friday, hitting $14.50. 2,951,570 shares of the company were exchanged, compared to its average volume of 2,038,957. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 7.32 and a beta of 0.87. The company has a 50-day moving average price of $15.58 and a 200 day moving average price of $15.54. Blue Owl Capital has a 1-year low of $12.99 and a 1-year high of $16.91. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.14.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, May 8th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $399.58 million for the quarter, compared to analyst estimates of $399.16 million. Blue Owl Capital had a return on equity of 12.64% and a net margin of 48.25%. As a group, sell-side analysts predict that Blue Owl Capital will post 1.88 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.06 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.66%. Blue Owl Capital’s payout ratio is presently 74.75%.

Institutional Trading of Blue Owl Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBDC. State of New Jersey Common Pension Fund E purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $335,810,000. Van ECK Associates Corp increased its position in shares of Blue Owl Capital by 19.4% during the first quarter. Van ECK Associates Corp now owns 8,150,533 shares of the company’s stock worth $125,355,000 after acquiring an additional 1,326,277 shares during the period. LSV Asset Management increased its position in shares of Blue Owl Capital by 10.4% during the second quarter. LSV Asset Management now owns 4,492,981 shares of the company’s stock worth $69,012,000 after acquiring an additional 423,934 shares during the period. Transcend Capital Advisors LLC purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $56,354,000. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth $47,997,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.