Citigroup Reiterates “Buy” Rating for Blue Owl Capital (NYSE:OWL)

Citigroup reiterated their buy rating on shares of Blue Owl Capital (NYSE:OWL) in a report released on Thursday morning, MarketBeat Ratings reports. Citigroup currently has a $30.00 price objective on the stock.

Other analysts have also issued reports about the stock. Oppenheimer increased their target price on shares of Blue Owl Capital from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price objective on shares of Blue Owl Capital in a research note on Wednesday, December 4th. Piper Sandler lifted their price objective on shares of Blue Owl Capital from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. The Goldman Sachs Group lowered Blue Owl Capital from a “buy” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $24.75 in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on Blue Owl Capital from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.85.

Blue Owl Capital Price Performance

Shares of NYSE:OWL opened at $26.06 on Thursday. The stock has a market cap of $38.91 billion, a price-to-earnings ratio of 153.27, a PEG ratio of 1.32 and a beta of 1.14. Blue Owl Capital has a 12 month low of $15.18 and a 12 month high of $26.13. The stock’s 50 day moving average price is $23.70 and its 200 day moving average price is $20.86.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. Blue Owl Capital had a return on equity of 19.98% and a net margin of 4.95%. The company had revenue of $600.88 million for the quarter, compared to the consensus estimate of $565.93 million. During the same quarter in the previous year, the business earned $0.16 EPS. On average, sell-side analysts expect that Blue Owl Capital will post 0.78 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 423.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Blue Owl Capital by 29.9% in the third quarter. FMR LLC now owns 35,324,089 shares of the company’s stock worth $683,874,000 after purchasing an additional 8,138,475 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Blue Owl Capital by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,030,397 shares of the company’s stock worth $174,829,000 after acquiring an additional 1,372,865 shares in the last quarter. State Street Corp boosted its stake in shares of Blue Owl Capital by 5.6% during the 3rd quarter. State Street Corp now owns 8,452,073 shares of the company’s stock worth $163,632,000 after acquiring an additional 449,066 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Blue Owl Capital by 14.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,152,157 shares of the company’s stock valued at $157,870,000 after acquiring an additional 1,016,505 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Blue Owl Capital by 4.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,736,287 shares of the company’s stock valued at $130,415,000 after acquiring an additional 293,221 shares in the last quarter. Institutional investors own 35.85% of the company’s stock.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.