Blue Owl Capital Co. (NYSE:OBDC) Announces $0.01 Dividend

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

Blue Owl Capital has increased its dividend by an average of 5.6% per year over the last three years and has raised its dividend every year for the last 2 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 decline. 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 Stock Up 1.7%

Blue Owl Capital stock traded up $0.24 on Tuesday, hitting $14.57. 1,632,902 shares of the stock traded hands, compared to its average volume of 2,603,379. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25. The firm has a market cap of $7.45 billion, a P/E ratio of 9.52 and a beta of 0.71. The business's fifty day simple moving average is $14.13 and its 200 day simple moving average is $14.75. Blue Owl Capital has a 1 year low of $12.11 and a 1 year high of $16.91.

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

Insider Buying and Selling

In other Blue Owl Capital news, Director Chris Temple bought 15,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $14.80 per share, with a total value of $222,000.00. Following the completion of the acquisition, the director now directly owns 51,000 shares of the company's stock, valued at $754,800. This represents a 41.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Institutional Investors 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 acquired a new stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 0.09% of Blue Owl Capital at the end of the most recent quarter. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on 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. Citizens Jmp raised Blue Owl Capital to a "strong-buy" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 15th. B. Riley started coverage on Blue Owl Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, JMP Securities reaffirmed an "outperform" rating on shares of Blue Owl Capital in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $15.64.

About Blue Owl Capital

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.