Blue Owl Capital’s (OBDC) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Blue Owl Capital (NYSE:OBDC) in a report issued on Tuesday,Benzinga reports. They currently have a $17.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of 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. Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Truist Financial reduced their price target on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.07.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $15.06 on Tuesday. Blue Owl Capital has a 1-year low of $13.98 and a 1-year high of $16.91. The firm’s 50-day simple moving average is $14.90 and its 200-day simple moving average is $15.34. The firm has a market cap of $5.88 billion, a P/E ratio of 9.35 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.28 and a quick ratio of 1.28.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s payout ratio is presently 91.93%.

Insider Activity

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the purchase, the director now directly owns 9,016 shares in the company, valued at $135,420.32. This trade represents a 38.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Trading of Blue Owl Capital

A number of hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new position in Blue Owl Capital during the 2nd quarter worth $26,000. CWM LLC grew its stake in Blue Owl Capital by 98.6% in the second quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after purchasing an additional 1,032 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Blue Owl Capital during the second quarter valued at approximately $61,000. Zions Bancorporation N.A. bought a new position in Blue Owl Capital during the 2nd quarter worth approximately $61,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Blue Owl Capital by 604.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after buying an additional 3,580 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

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.