Credit Agricole S A Buys 76,868 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Credit Agricole S A increased its stake in Blue Owl Capital Corporation by 102.8% during the first quarter, owning 151,653 shares valued at approximately $2.2 million.
• Blue Owl Capital recently declared a dividend of $0.02 per share, marking a significant increase from its previous dividend of $0.01, with a dividend yield of 1,139.0%.
• Analysts generally rate Blue Owl Capital positively, with an average rating of "Buy" and a target price of $15.42, followed by recent upgrades from various research firms.

Credit Agricole S A raised its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 102.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,653 shares of the company's stock after buying an additional 76,868 shares during the period. Credit Agricole S A's holdings in Blue Owl Capital were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in shares of Blue Owl Capital during the fourth quarter valued at about $49,000. Roxbury Financial LLC purchased a new stake in Blue Owl Capital during the first quarter worth about $50,000. Zions Bancorporation National Association UT purchased a new stake in Blue Owl Capital during the first quarter worth about $59,000. Caitong International Asset Management Co. Ltd purchased a new stake in Blue Owl Capital during the first quarter worth about $61,000. Finally, Versant Capital Management Inc purchased a new stake in Blue Owl Capital during the first quarter worth about $63,000. 42.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OBDC. Royal Bank Of Canada restated 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 began coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. Finally, LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.42.

Blue Owl Capital Stock Performance

Shares of OBDC traded up $0.11 during trading hours on Friday, hitting $14.31. The company's stock had a trading volume of 484,629 shares, compared to its average volume of 3,170,707. The business has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $14.47. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 9.47 and a beta of 0.74. Blue Owl Capital Corporation has a 52-week low of $12.11 and a 52-week high of $15.73. 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 (NYSE:OBDC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. On average, equities analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.02 per share. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.01. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 29th. Blue Owl Capital's dividend payout ratio is presently 98.01%.

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.