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

Blue Owl Capital Corporation (NYSE:OBDC) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.0625.

A number of analysts have commented on OBDC shares. Zacks Research raised shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Truist Financial decreased their target price on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a research report on Monday, February 23rd.

Blue Owl Capital Trading Down 2.3%

Blue Owl Capital stock opened at $11.18 on Monday. Blue Owl Capital has a 52-week low of $10.70 and a 52-week high of $15.36. The company has a market cap of $5.58 billion, a P/E ratio of 9.01 and a beta of 0.67. 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 business has a 50-day simple moving average of $11.75 and a two-hundred day simple moving average of $12.51.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data 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. The firm had revenue of $439.50 million for the quarter, compared to analysts’ expectations of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Analysts predict that Blue Owl Capital will post 1.71 EPS for the current year.

Blue Owl Capital declared that its board has authorized a share buyback plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Blue Owl Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 13.2%. Blue Owl Capital’s dividend payout ratio (DPR) is 119.35%.

Institutional Investors Weigh In On Blue Owl Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lalia Capital LLC purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $37,991,000. UBS Group AG increased its stake in shares of Blue Owl Capital by 40.6% in the fourth quarter. UBS Group AG now owns 8,528,672 shares of the company’s stock worth $106,011,000 after purchasing an additional 2,463,080 shares in the last quarter. Private Management Group Inc. purchased a new stake in shares of Blue Owl Capital in the fourth quarter worth $27,012,000. Wells Fargo & Company MN raised its position in shares of Blue Owl Capital by 142.6% during 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. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Blue Owl Capital during the 3rd quarter valued at $25,266,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

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.