Blue Owl Capital Corporation (NYSE:OBDC) Given Average Rating of “Moderate Buy” by Brokerages

Blue Owl Capital Corporation (NYSE:OBDC) has received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of analysts have commented on OBDC shares. Wall Street Zen cut shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Wells Fargo & Company cut their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Truist Financial reduced their price target on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Keefe, Bruyette & Woods dropped their price objective on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, April 16th.

Blue Owl Capital Stock Down 0.8%

NYSE:OBDC opened at $10.72 on Friday. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 15.32 and a beta of 0.62. Blue Owl Capital has a twelve month low of $10.52 and a twelve month high of $14.98. The stock’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $11.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The company had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. Equities research analysts expect that Blue Owl Capital will post 1.27 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.6%. Blue Owl Capital’s payout ratio is presently 177.14%.

Institutional Investors Weigh In On Blue Owl Capital

Several hedge funds have recently added to or reduced their stakes in OBDC. Goldman Sachs Group Inc. raised its position in shares of Blue Owl Capital by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock valued at $28,211,000 after purchasing an additional 384,641 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Blue Owl Capital in the 1st quarter valued at about $6,641,000. EverSource Wealth Advisors LLC grew its stake in Blue Owl Capital by 106.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock valued at $125,000 after buying an additional 4,494 shares during the last quarter. Squarepoint Ops LLC lifted its position in Blue Owl Capital by 133.8% during the second quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock worth $1,344,000 after acquiring an additional 53,613 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Blue Owl Capital by 24.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock valued at $235,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds 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.