State of New Jersey Common Pension Fund E Purchases Shares of 22,751,338 Blue Owl Capital Co. (NYSE:OBDC)

State of New Jersey Common Pension Fund E purchased a new stake in Blue Owl Capital Co. (NYSE:OBDC) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 22,751,338 shares of the company’s stock, valued at approximately $335,810,000. Blue Owl Capital accounts for 81.0% of State of New Jersey Common Pension Fund E’s holdings, making the stock its biggest holding. State of New Jersey Common Pension Fund E owned 0.06% of Blue Owl Capital at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC bought a new stake in shares of Blue Owl Capital during the 4th quarter worth $41,000. CVA Family Office LLC purchased a new position in shares of Blue Owl Capital during the fourth quarter valued at about $61,000. Register Financial Advisors LLC bought a new stake in Blue Owl Capital during the fourth quarter worth about $64,000. Parkside Financial Bank & Trust bought a new stake in Blue Owl Capital during the fourth quarter worth about $66,000. Finally, Bourgeon Capital Management LLC bought a new stake in Blue Owl Capital during the fourth quarter worth about $70,000. 42.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. B. Riley lowered shares of Blue Owl Capital from a “buy” rating to a “neutral” rating and set a $15.50 price objective on the stock. in a research note on Monday, January 8th. Wells Fargo & Company upped their target price on shares of Blue Owl Capital from $13.00 to $14.50 and gave the stock an “underweight” rating in a research note on Monday, January 29th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Blue Owl Capital in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.50.

Blue Owl Capital Stock Performance

OBDC stock traded up $0.18 during midday trading on Friday, reaching $15.93. 1,545,470 shares of the company’s stock traded hands, compared to its average volume of 1,996,646. Blue Owl Capital Co. has a 52-week low of $12.20 and a 52-week high of $15.95. The stock has a market cap of $6.21 billion, a P/E ratio of 7.82 and a beta of 0.91. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average is $15.30 and its 200 day moving average is $14.79.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, February 21st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Blue Owl Capital had a net margin of 50.14% and a return on equity of 12.62%. The business had revenue of $411.23 million during the quarter, compared to analysts’ expectations of $397.42 million. As a group, analysts anticipate that Blue Owl Capital Co. will post 1.9 EPS for the current year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.01%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 68.97%.

Insider Buying and Selling

In related news, Director Edward H. Dalelio bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $15.07 per share, for a total transaction of $45,210.00. Following the completion of the transaction, the director now owns 6,217 shares in the company, valued at $93,690.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is owned by company insiders.

Blue Owl Capital Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.