Blue Owl Capital (NYSE:OBDC) Upgraded at Zacks Research

Zacks Research upgraded shares of Blue Owl Capital (NYSE:OBDC) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on OBDC. Royal Bank Of Canada reduced their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Truist Financial cut their price objective on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating for the company in a report on Monday. Citizens Jmp reduced their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. Keefe, Bruyette & Woods dropped their target price on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company cut their price target on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.06.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $11.93 on Monday. Blue Owl Capital has a 1 year low of $10.70 and a 1 year high of $15.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $12.86. The firm has a market cap of $5.96 billion, a PE ratio of 9.62 and a beta of 0.67.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The company had revenue of $439.50 million during the quarter, compared to the consensus estimate of $454.38 million. On average, equities research analysts forecast that Blue Owl Capital will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

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

Blue Owl Capital announced that its board has authorized a stock repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors and hedge funds have recently bought and sold shares of OBDC. Caz Investments LP bought a new stake in Blue Owl Capital during the third quarter worth about $14,357,000. Border to Coast Pensions Partnership Ltd raised its holdings in shares of Blue Owl Capital by 19.2% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,550,000 shares of the company’s stock valued at $19,793,000 after buying an additional 250,000 shares in the last quarter. Ares Management LLC raised its holdings in shares of Blue Owl Capital by 6.5% during the 2nd quarter. Ares Management LLC now owns 2,487,964 shares of the company’s stock valued at $35,677,000 after buying an additional 151,142 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Blue Owl Capital by 144.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 389,245 shares of the company’s stock worth $4,971,000 after buying an additional 230,295 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Blue Owl Capital in the third quarter worth approximately $1,671,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

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.