Blue Owl Capital Co. (NYSE:OBDC) to Issue Dividend of $0.01

Blue Owl Capital Co. (NYSE:OBDC - Get Free Report) declared a dividend on Saturday, May 24th, investing.com reports. Investors of record on Monday, June 2nd will be given a dividend of 0.01 per share on Friday, June 13th. This represents a yield of 11.51%. The ex-dividend date of this dividend is Friday, May 30th.

Blue Owl Capital has raised its dividend by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Blue Owl Capital has a payout ratio of 96.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Blue Owl Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 86.5%.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock traded up $0.02 on Thursday, hitting $14.61. 895,922 shares of the company traded hands, compared to its average volume of 2,597,927. The company has a market cap of $7.46 billion, a P/E ratio of 9.55 and a beta of 0.71. The firm's 50-day simple moving average is $14.12 and its 200 day simple moving average is $14.75. Blue Owl Capital has a 12-month low of $12.11 and a 12-month high of $16.91. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. Analysts expect that Blue Owl Capital will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. B. Riley began coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective for the company. JMP Securities restated an "outperform" rating on shares of Blue Owl Capital in a report on Tuesday, February 4th. Keefe, Bruyette & Woods reduced their price objective on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.64.

Insider Transactions at Blue Owl Capital

In other news, Director Victor Woolridge acquired 6,915 shares of Blue Owl Capital stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the completion of the purchase, the director now directly owns 28,191 shares of the company's stock, valued at $407,359.95. This trade represents a 32.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Chris Temple bought 15,000 shares of the business's stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $14.80 per share, for a total transaction of $222,000.00. Following the completion of the purchase, the director now directly owns 51,000 shares of the company's stock, valued at $754,800. The trade was a 41.67% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On Blue Owl Capital

A hedge fund recently bought a new stake in Blue Owl Capital stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Blue Owl Capital Co. (NYSE:OBDC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 452,976 shares of the company's stock, valued at approximately $6,641,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.09% of Blue Owl Capital as of its most recent filing with the Securities and Exchange Commission. 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.