Essex Financial Services Inc. Takes $162,000 Position in Blue Owl Capital Co. (NYSE:OBDC)

Essex Financial Services Inc. purchased a new position in shares of Blue Owl Capital Co. (NYSE:OBDC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,300 shares of the company’s stock, valued at approximately $162,000.

A number of other institutional investors also recently added to or reduced their stakes in OBDC. Heritage Wealth Advisors bought a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $32,000. CWM LLC lifted its holdings in shares of Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at $38,000. Headlands Technologies LLC bought a new stake in shares of Blue Owl Capital in the 1st quarter worth about $40,000. Finally, Spire Wealth Management acquired a new stake in shares of Blue Owl Capital during the 4th quarter worth about $45,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on OBDC. 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. Wells Fargo & Company decreased their price target on Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Finally, Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.94.

Insider Activity at Blue Owl Capital

In related news, Director Edward H. Dalelio bought 2,500 shares of Blue Owl Capital stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares in the company, valued at $135,420.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Blue Owl Capital Stock Down 1.7 %

Shares of NYSE OBDC opened at $14.90 on Wednesday. Blue Owl Capital Co. has a 1 year low of $12.99 and a 1 year high of $16.91. The firm’s 50-day moving average is $15.14 and its 200-day moving average is $15.53. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.81 billion, a PE ratio of 7.53 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. Equities analysts expect that Blue Owl Capital Co. will post 1.93 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. Blue Owl Capital’s payout ratio is 74.75%.

Blue Owl Capital 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.