Bank of New York Mellon Corp Increases Stock Holdings in Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• Bank of New York Mellon Corp increased its holdings in Blue Owl Capital Corporation by 44.5%, acquiring a total of 116,359 shares valued at approximately $1.7 million as of the latest quarterly report.
• Blue Owl Capital recently issued a $0.01 dividend on June 13th, with a high dividend yield of 11.51%, while its dividend payout ratio stands at 95.48%.
• Following a recent earnings report, Blue Owl Capital's stock is currently rated as a "Buy" by several analysts, with an average target price set at $15.64.

Bank of New York Mellon Corp boosted its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 44.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,359 shares of the company's stock after purchasing an additional 35,820 shares during the quarter. Bank of New York Mellon Corp's holdings in Blue Owl Capital were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in Blue Owl Capital by 9.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock worth $197,000 after acquiring an additional 1,083 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Blue Owl Capital by 85.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,026,055 shares of the company's stock valued at $15,042,000 after purchasing an additional 474,100 shares during the last quarter. JPMorgan Chase & Co. increased its position in Blue Owl Capital by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company's stock worth $36,843,000 after buying an additional 174,759 shares during the period. Sound Income Strategies LLC increased its position in Blue Owl Capital by 4.3% during the 1st quarter. Sound Income Strategies LLC now owns 3,153,298 shares of the company's stock worth $46,227,000 after buying an additional 129,038 shares during the period. Finally, Castle Wealth Management LLC bought a new position in shares of Blue Owl Capital in the first quarter worth $284,000. 42.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on OBDC shares. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group started coverage on Blue Owl Capital in a research report on Friday, April 11th. They issued a "buy" rating and a $16.00 price target on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 15th. B. Riley began coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $15.64.

Blue Owl Capital Stock Performance

OBDC stock traded down $0.19 during midday trading on Friday, hitting $14.09. The company's stock had a trading volume of 3,044,300 shares, compared to its average volume of 2,609,898. The stock's 50-day moving average price is $14.59 and its 200 day moving average price is $14.57. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a 1 year low of $12.11 and a 1 year high of $15.73. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 9.09 and a beta of 0.74.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. The business had revenue of $464.65 million during the quarter, compared to analysts' expectations of $457.88 million. On average, equities analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 1,151.0%. Blue Owl Capital's dividend payout ratio (DPR) is 95.48%.

Insiders Place Their Bets

In related news, Director Victor Woolridge bought 6,915 shares of Blue Owl Capital stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $14.45 per share, with a total value of $99,921.75. Following the acquisition, the director directly owned 28,191 shares of the company's stock, valued at $407,359.95. This represents a 32.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company's stock.

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.