Blue Owl Capital Corporation (NYSE:OBDC) Stock Has Consensus Price Target of $13.00 According to Brokerages

Shares of Blue Owl Capital Corporation (NYSE:OBDC) have received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $13.00.

Several brokerages have recently weighed in on OBDC. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a research note on Friday, July 24th. Finally, Lucid Cap Mkts upgraded Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its holdings in shares of Blue Owl Capital by 440.0% in the second quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company’s stock valued at $29,000 after purchasing an additional 2,200 shares during the last quarter. AG Campbell Advisory LLC acquired a new position in shares of Blue Owl Capital in the 4th quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd raised its position in Blue Owl Capital by 51.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,208 shares of the company’s stock valued at $40,000 after purchasing an additional 1,093 shares during the period. Cornerstone Financial Management LLC acquired a new position in Blue Owl Capital during the fourth quarter worth $50,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Blue Owl Capital by 102.7% during the first quarter. EverSource Wealth Advisors LLC now owns 8,159 shares of the company’s stock worth $90,000 after buying an additional 4,134 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Price Performance

OBDC opened at $10.31 on Friday. Blue Owl Capital has a 12-month low of $10.23 and a 12-month high of $13.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The business’s fifty day simple moving average is $11.18 and its 200-day simple moving average is $11.13. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 18.42 and a beta of 0.64.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Blue Owl Capital had a net margin of 16.99% and a return on equity of 9.49%. The company had revenue of $396.00 million during the quarter, compared to analyst estimates of $394.23 million. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts anticipate that Blue Owl Capital will post 1.29 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.24 dividend on an annualized basis and a yield of 12.0%. Blue Owl Capital’s dividend payout ratio is presently 221.43%.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company that provides financing to middle-market companies. The company invests primarily in privately held businesses through senior secured loans, including first-lien and unitranche loans, as well as second-lien debt, subordinated debt and equity investments.

OBDC’s investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses that may have limited access to traditional financing sources.

The company was formed as Owl Rock Capital Corporation and began operations in 2016.