Blue Owl Capital (NYSE:OBDC) Hits New 52-Week Low - What's Next?

Key Points

• Blue Owl Capital's shares hit a new 52-week low of $12.10, closing at $12.12 with a trading volume of approximately 3.13 million shares.
• An upgrade to a "strong-buy" rating by LADENBURG THALM/SH and a target price of $14.00 from Raymond James suggests analysts remain positive, with a consensus price target of $15.21.
• The company increased its quarterly dividend from $0.01 to $0.02, reflecting a 0.7% yield despite a high payout ratio of 98.01%.

Shares of Blue Owl Capital Corporation (NYSE:OBDC - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $12.10 and last traded at $12.12, with a volume of 3127910 shares traded. The stock had previously closed at $12.23.

Analysts Set New Price Targets

Several research analysts recently weighed in on OBDC shares. LADENBURG THALM/SH SH upgraded Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Raymond James Financial set a $14.00 target price on Blue Owl Capital and gave the stock an "outperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $15.21.

Blue Owl Capital Trading Down 0.9%

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day simple moving average of $13.80 and a two-hundred day simple moving average of $14.16. The firm has a market cap of $6.19 billion, a PE ratio of 8.04 and a beta of 0.75.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%. Analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.02 dividend. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. Blue Owl Capital's payout ratio is presently 98.01%.

Hedge Funds Weigh In On Blue Owl Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Blue Owl Capital in the 2nd quarter valued at about $734,619,000. Oregon Public Employees Retirement Fund grew its position in shares of 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 acquiring an additional 11,098,695 shares during the period. State of New Jersey Common Pension Fund A acquired a new stake in shares of Blue Owl Capital during the 2nd quarter valued at about $218,884,000. Bank of America Corp DE grew its position in shares of Blue Owl Capital by 4.3% during the 2nd quarter. Bank of America Corp DE now owns 12,463,438 shares of the company's stock valued at $178,726,000 after acquiring an additional 517,294 shares during the period. Finally, Cresset Asset Management LLC grew its position in shares of Blue Owl Capital by 85.8% during the 1st quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company's stock valued at $123,979,000 after acquiring an additional 3,809,000 shares during the period. Institutional investors and hedge funds own 42.83% of the company's stock.

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.

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.