Blue Owl Capital Corporation (NYSE:OBDC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Blue Owl Capital Corporation (NYSE:OBDC) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.00.

Several brokerages have recently commented on OBDC. Truist Financial decreased their price target on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Royal Bank Of Canada decreased their price target on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Wells Fargo & Company decreased their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research raised Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd.

Institutional Investors Weigh In On Blue Owl Capital

Institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Blue Owl Capital in the 3rd quarter valued at approximately $1,208,000. Van ECK Associates Corp lifted its stake in Blue Owl Capital by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after buying an additional 757,203 shares in the last quarter. Caz Investments LP purchased a new stake in Blue Owl Capital in the 3rd quarter valued at approximately $14,357,000. Border to Coast Pensions Partnership Ltd lifted its stake in Blue Owl Capital by 19.2% in 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. Finally, Tectonic Advisors LLC lifted its stake in Blue Owl Capital by 13.0% in the 4th quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock valued at $12,975,000 after buying an additional 119,798 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Price Performance

Shares of OBDC opened at $10.97 on Friday. Blue Owl Capital has a twelve month low of $10.52 and a twelve month high of $15.19. The stock’s 50 day moving average is $11.21 and its two-hundred day moving average is $11.85. The firm has a market capitalization of $5.45 billion, a PE ratio of 15.67 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The business had revenue of $391.00 million during the quarter, compared to analysts’ expectations of $422.02 million. Research analysts anticipate that Blue Owl Capital will post 1.27 earnings per share for the current year.

Blue Owl Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.24 annualized dividend and a dividend yield of 11.3%. Blue Owl Capital’s payout ratio is 211.43%.

Blue Owl Capital announced that its Board of Directors has approved a stock buyback program on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.