Analysts Set Blue Owl Capital Co. (NYSE:OBDC) Target Price at $16.00

Shares of Blue Owl Capital Co. (NYSE:OBDC) have been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.94.

Several equities analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research note on Monday, August 12th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Finally, Hovde Group raised their target price on Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 10th.

Hedge Funds Weigh In On Blue Owl Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in Blue Owl Capital by 7.5% in the second quarter. Cetera Investment Advisers now owns 120,085 shares of the company’s stock valued at $1,845,000 after acquiring an additional 8,378 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Blue Owl Capital by 53.6% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 45,809 shares of the company’s stock valued at $721,000 after purchasing an additional 15,979 shares during the last quarter. Granite FO LLC acquired a new stake in shares of Blue Owl Capital in the 2nd quarter valued at $1,226,000. NewEdge Advisors LLC lifted its position in shares of Blue Owl Capital by 151.4% during the 2nd quarter. NewEdge Advisors LLC now owns 271,820 shares of the company’s stock worth $4,175,000 after purchasing an additional 163,698 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in Blue Owl Capital in the second quarter valued at $2,476,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Trading Up 1.2 %

NYSE OBDC opened at $14.91 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $5.81 billion, a P/E ratio of 7.53 and a beta of 0.87. The firm’s 50-day moving average is $15.24 and its two-hundred day moving average is $15.52. Blue Owl Capital has a 12 month low of $12.99 and a 12 month high of $16.91.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.06 per share. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 30th. This represents a $0.24 annualized dividend and a yield of 1.61%. Blue Owl Capital’s dividend payout ratio is 74.75%.

About Blue Owl Capital

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.