Blue Owl Capital Corporation (NYSE:OBDC) Given Consensus Rating of "Buy" by Analysts

Key Points

• Blue Owl Capital (NYSE: OBDC) has received a consensus rating of "Buy" from analysts, with a 1-year price target averaging $15.42.
• Institutional investors now hold 42.83% of Blue Owl Capital's stock, with significant investments from firms like Kingstone Capital Partners and Oregon Public Employees Retirement Fund.
• The company recently announced a dividend increase to $0.02, reflecting a high dividend yield of 1,139.0%, with a payout ratio of 98.01%.

Shares of Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) have been assigned an average rating of "Buy" from the eight brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.4167.

OBDC has been the subject of a number of research reports. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. Finally, B. Riley started 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 target for the company.

Institutional Investors Weigh In On Blue Owl Capital

A number of hedge funds have recently made changes to their positions in OBDC. Kingstone Capital Partners Texas LLC purchased a new stake in Blue Owl Capital during the 2nd quarter valued at $734,619,000. State of New Jersey Common Pension Fund A purchased a new stake in Blue Owl Capital during the 2nd quarter valued at $218,884,000. Oregon Public Employees Retirement Fund boosted its position in Blue Owl Capital by 222.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company's stock valued at $236,007,000 after buying an additional 11,098,695 shares during the period. Cresset Asset Management LLC grew its stake in shares of Blue Owl Capital by 8,188.9% in the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock worth $68,762,000 after purchasing an additional 4,385,987 shares during the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in Blue Owl Capital during the 2nd quarter valued at about $48,845,000. 42.83% of the stock is currently owned by institutional investors.

Blue Owl Capital Price Performance

OBDC stock opened at $14.20 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80. Blue Owl Capital has a one year low of $12.11 and a one year high of $15.73. The stock has a market cap of $7.25 billion, a PE ratio of 9.40 and a beta of 0.74. The firm has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $14.48.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The business had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. On average, analysts predict that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.02 dividend. This represents a dividend yield of 1,139.0%. The ex-dividend date is Friday, August 29th. This is a positive change from Blue Owl Capital's previous dividend of $0.01. Blue Owl Capital's dividend payout ratio (DPR) is presently 98.01%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.