Oppenheimer & Co. Inc. Increases Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Oppenheimer & Co. Inc. increased its stake in Blue Owl Capital Co. (NYSE:OBDC) by 8.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 494,340 shares of the company’s stock after acquiring an additional 39,621 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.13% of Blue Owl Capital worth $7,603,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in OBDC. State of New Jersey Common Pension Fund E purchased a new stake in shares of Blue Owl Capital during the fourth quarter worth approximately $335,810,000. Regents of The University of California purchased a new stake in shares of Blue Owl Capital in the 4th quarter valued at approximately $258,421,000. Van ECK Associates Corp acquired a new stake in shares of Blue Owl Capital during the 4th quarter worth approximately $100,726,000. Transcend Capital Advisors LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter valued at approximately $56,354,000. Finally, LSV Asset Management purchased a new position in Blue Owl Capital during the 4th quarter valued at about $51,197,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

NYSE OBDC traded up $0.21 on Friday, reaching $15.67. The stock had a trading volume of 2,441,770 shares, compared to its average volume of 1,844,986. Blue Owl Capital Co. has a 12-month low of $12.99 and a 12-month high of $16.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $6.11 billion, a P/E ratio of 7.91 and a beta of 0.87. The business’s 50-day moving average price is $16.09 and its 200 day moving average price is $15.50.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, May 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. The business had revenue of $399.58 million during the quarter, compared to analysts’ expectations of $399.16 million. As a group, equities analysts expect that Blue Owl Capital Co. will post 1.88 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $0.05 per share. This represents a dividend yield of 10%. The ex-dividend date of this dividend was Friday, May 31st. Blue Owl Capital’s dividend payout ratio is presently 74.75%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OBDC shares. Royal Bank of Canada raised their price objective on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Blue Owl Capital in a report on Tuesday, March 26th. Truist Financial boosted their price objective on Blue Owl Capital from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 23rd. Finally, Hovde Group increased their price objective on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.19.

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.