Analysts Set Blue Owl Capital Corporation (NYSE:OBDC) Price Target at $14.21

Shares of Blue Owl Capital Corporation (NYSE:OBDC) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $14.0625.

A number of research analysts recently weighed in on the stock. Citizens Jmp reduced their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Truist Financial reduced their price target on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company decreased their price objective on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Keefe, Bruyette & Woods cut their target price 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. Finally, Royal Bank Of Canada reduced their target price on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday.

Blue Owl Capital Price Performance

NYSE OBDC opened at $11.51 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26. The company has a market cap of $5.75 billion, a PE ratio of 9.28 and a beta of 0.67. Blue Owl Capital has a 52 week low of $10.70 and a 52 week high of $15.58. The firm’s 50-day simple moving average is $12.21 and its two-hundred day simple moving average is $12.89.

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

Blue Owl Capital announced that its board has authorized a share buyback program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.48 annualized dividend and a yield of 12.9%. Blue Owl Capital’s payout ratio is currently 119.35%.

Insider Buying and Selling

In other news, VP Neena Reddy purchased 7,890 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average cost of $13.06 per share, with a total value of $103,043.40. Following the acquisition, the vice president directly owned 7,890 shares in the company, valued at approximately $103,043.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors and hedge funds have recently made changes to their positions in OBDC. State of New Jersey Common Pension Fund A purchased a new position in Blue Owl Capital during the second quarter worth about $218,884,000. Lalia Capital LLC purchased a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $37,991,000. UBS Group AG boosted its position in shares of Blue Owl Capital by 40.6% during the 4th quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock valued at $106,011,000 after acquiring an additional 2,463,080 shares during the last quarter. Private Management Group Inc. purchased a new position in shares of Blue Owl Capital during the fourth quarter worth about $27,012,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Blue Owl Capital by 142.6% during the fourth quarter. Wells Fargo & Company MN now owns 3,440,960 shares of the company’s stock worth $42,771,000 after purchasing an additional 2,022,806 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

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.