Blue Owl Capital (NYSE:OBDC) Stock Rating Upgraded by Zacks Research

Blue Owl Capital (NYSE:OBDC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

OBDC has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their price objective on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a research note on Monday. Royal Bank Of Canada dropped their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Truist Financial decreased their price objective on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their price objective on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Citizens Jmp cut their target price on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.06.

Blue Owl Capital Stock Up 1.5%

Shares of NYSE:OBDC opened at $11.68 on Monday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 9.42 and a beta of 0.67. The stock’s 50-day moving average price is $12.19 and its 200-day moving average price is $12.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.26. Blue Owl Capital has a 12-month low of $10.70 and a 12-month high of $15.58.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $439.50 million during the quarter, compared to analysts’ expectations of $454.38 million. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%. On average, equities analysts anticipate that Blue Owl Capital will post 1.71 earnings per share for the current year.

Blue Owl Capital announced that its board has approved a stock buyback program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Blue Owl Capital

Several hedge funds and other institutional investors have recently modified their holdings of OBDC. Invesco Ltd. lifted its holdings in Blue Owl Capital by 243.4% in the fourth quarter. Invesco Ltd. now owns 1,054,030 shares of the company’s stock worth $13,102,000 after buying an additional 747,051 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Blue Owl Capital by 251.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 255,739 shares of the company’s stock worth $3,179,000 after acquiring an additional 183,056 shares in the last quarter. Papamarkou Wellner Asset Management inc. bought a new position in shares of Blue Owl Capital in the 4th quarter worth approximately $124,000. EP Wealth Advisors LLC purchased a new position in shares of Blue Owl Capital in the 4th quarter valued at approximately $3,492,000. Finally, NewEdge Advisors LLC boosted its position in shares of Blue Owl Capital by 16.0% during the fourth quarter. NewEdge Advisors LLC now owns 291,701 shares of the company’s stock valued at $3,626,000 after purchasing an additional 40,341 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.