Blue Owl Capital Corporation (NYSE:OBDC) Receives Average Rating of “Moderate Buy” from Analysts

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

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

Blue Owl Capital Trading Down 2.6%

OBDC opened at $10.86 on Wednesday. The stock has a market capitalization of $5.39 billion, a P/E ratio of 15.51 and a beta of 0.62. Blue Owl Capital has a 12 month low of $10.52 and a 12 month high of $15.19. The firm’s fifty day simple moving average is $11.18 and its 200 day simple moving average is $11.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18.

Blue Owl Capital (NYSE:OBDC) last posted 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). The company had revenue of $391.00 million during the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. As a group, research analysts anticipate that Blue Owl Capital will post 1.27 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.4%. Blue Owl Capital’s payout ratio is 211.43%.

Institutional Trading of Blue Owl Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in OBDC. Strs Ohio raised its holdings in shares of Blue Owl Capital by 411.4% in the 1st quarter. Strs Ohio now owns 10,941,976 shares of the company’s stock valued at $121,018,000 after purchasing an additional 8,802,373 shares during the period. Lalia Capital LLC bought a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $37,991,000. UBS Group AG raised its holdings in shares of Blue Owl Capital by 40.6% in the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock valued at $106,011,000 after purchasing an additional 2,463,080 shares during the period. Private Management Group Inc. bought a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $27,012,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Blue Owl Capital by 142.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company’s stock valued at $42,771,000 after purchasing an additional 2,022,806 shares during the period. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Company Profile

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.