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

Shares of Blue Owl Capital Corporation (NYSE:OBDC) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.0625.

OBDC has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Truist Financial dropped their price target on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a research note on Monday. Finally, Citizens Jmp decreased their target price on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th.

Institutional Investors Weigh In On Blue Owl Capital

Several large investors have recently modified their holdings of OBDC. State of New Jersey Common Pension Fund A bought a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $218,884,000. Lalia Capital LLC purchased a new stake in Blue Owl Capital in the fourth quarter worth $37,991,000. UBS Group AG raised 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 valued at $106,011,000 after buying an additional 2,463,080 shares during the period. Private Management Group Inc. bought a new stake in shares of Blue Owl Capital in the fourth quarter valued at $27,012,000. Finally, Wells Fargo & Company MN lifted 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 buying an additional 2,022,806 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $11.93 on Thursday. The company has a fifty day moving average price of $12.17 and a 200-day moving average price of $12.86. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 9.62 and a beta of 0.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. Blue Owl Capital has a 1 year low of $10.70 and a 1 year high of $15.58.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. The company had revenue of $439.50 million for the quarter, compared to analyst estimates of $454.38 million. As a group, equities research analysts predict that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, March 31st. Blue Owl Capital’s dividend payout ratio (DPR) is 119.35%.

Blue Owl Capital announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Blue Owl Capital Company Profile

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.