Blue Owl Capital (NYSE:OBDC) Price Target Cut to $16.00 by Analysts at Royal Bank of Canada

Blue Owl Capital (NYSE:OBDC) had its target price decreased by Royal Bank of Canada from $17.00 to $16.00 in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. JMP Securities reaffirmed an “outperform” rating on shares of Blue Owl Capital in a research report on Tuesday, February 4th. Citizens Jmp raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, February 3rd. Jefferies Financial Group began coverage on shares of Blue Owl Capital in a report on Friday, April 11th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.93.

Blue Owl Capital Price Performance

NYSE OBDC opened at $13.83 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 1.28. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 9.04 and a beta of 0.73. The company has a 50 day simple moving average of $14.29 and a 200-day simple moving average of $14.82. Blue Owl Capital has a 52-week low of $12.11 and a 52-week high of $16.91.

Blue Owl Capital (NYSE:OBDC) last released its earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. The company had revenue of $394.39 million during the quarter, compared to the consensus estimate of $395.24 million. Equities research analysts predict that Blue Owl Capital will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, March 31st. Blue Owl Capital’s dividend payout ratio is 96.73%.

Insider Activity

In other news, Director Chris Temple bought 15,000 shares of Blue Owl Capital stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $14.80 per share, for a total transaction of $222,000.00. Following the purchase, the director now owns 51,000 shares of the company’s stock, valued at approximately $754,800. This trade represents a 41.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Blue Owl Capital

Several institutional investors have recently added to or reduced their stakes in OBDC. Oregon Public Employees Retirement Fund increased its holdings in shares of Blue Owl Capital by 222.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company’s stock worth $236,007,000 after buying an additional 11,098,695 shares in the last quarter. Royal Bank of Canada increased its holdings in Blue Owl Capital by 9.2% during the 4th quarter. Royal Bank of Canada now owns 7,387,300 shares of the company’s stock valued at $111,696,000 after purchasing an additional 620,521 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Blue Owl Capital by 5.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company’s stock valued at $72,361,000 after purchasing an additional 236,467 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Blue Owl Capital by 8,188.9% in the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company’s stock worth $68,762,000 after purchasing an additional 4,385,987 shares in the last quarter. Finally, Brown University boosted its stake in Blue Owl Capital by 17.9% in the first quarter. Brown University now owns 4,348,863 shares of the company’s stock worth $63,754,000 after purchasing an additional 660,136 shares in the last quarter. 42.83% of the stock is owned by institutional investors.

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.