Blue Owl Capital (NYSE:OWL) Price Target Raised to $17.00

Blue Owl Capital (NYSE:OWL) had its price target lifted by Oppenheimer from $15.00 to $17.00 in a report published on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on OWL. Barclays increased their price target on Blue Owl Capital from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Credit Suisse Group set a $9.10 price objective on Blue Owl Capital in a report on Thursday, July 2nd. Citizens Jmp decreased their price objective on Blue Owl Capital from $21.00 to $17.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised Blue Owl Capital to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.57.

Blue Owl Capital Stock Up 0.1%

Shares of OWL stock opened at $12.03 on Thursday. Blue Owl Capital has a 12-month low of $7.95 and a 12-month high of $19.29. The firm has a fifty day moving average of $10.29 and a 200-day moving average of $10.02. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 100.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.19.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $693.56 million for the quarter, compared to the consensus estimate of $693.15 million. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%. Research analysts expect that Blue Owl Capital will post 0.88 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Thursday, August 13th. Blue Owl Capital’s dividend payout ratio is presently 766.67%.

Hedge Funds Weigh In On Blue Owl Capital

A number of institutional investors have recently added to or reduced their stakes in OWL. Capital World Investors lifted its stake in Blue Owl Capital by 5.9% in the fourth quarter. Capital World Investors now owns 90,245,690 shares of the company’s stock valued at $1,348,272,000 after acquiring an additional 5,029,134 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Blue Owl Capital by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 68,608,868 shares of the company’s stock worth $1,025,016,000 after purchasing an additional 691,980 shares during the last quarter. Capital International Investors increased its stake in shares of Blue Owl Capital by 4.3% during the 4th quarter. Capital International Investors now owns 65,402,615 shares of the company’s stock worth $977,118,000 after purchasing an additional 2,676,281 shares during the last quarter. Bank of America Corp DE grew its holdings in Blue Owl Capital by 8.4% during the third quarter. Bank of America Corp DE now owns 22,563,953 shares of the company’s stock worth $382,008,000 after purchasing an additional 1,751,024 shares during the period. Finally, Boston Partners raised its stake in Blue Owl Capital by 16.2% in the 4th quarter. Boston Partners now owns 14,123,877 shares of the company’s stock valued at $211,270,000 after acquiring an additional 1,970,101 shares during the period. 35.85% of the stock is currently owned by institutional investors and hedge funds.

About Blue Owl Capital

Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers.

Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries.