Entropy Technologies LP Has $1.67 Million Stake in Blue Owl Capital Corporation $OBDC

Key Points

• Entropy Technologies LP sharply boosted its Blue Owl Capital stake by 742.7% in the fourth quarter, ending with 134,472 shares valued at about $1.67 million.
• Blue Owl Capital reported mixed quarterly results, with EPS of $0.31 missing estimates and revenue of $391 million falling short of expectations.
• The company maintained an attractive 11.2% dividend yield after setting a quarterly dividend of $0.31 per share, and it also has a $300 million share buyback authorization in place.

Entropy Technologies LP increased its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 742.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 134,472 shares of the company's stock after acquiring an additional 118,514 shares during the period. Entropy Technologies LP's holdings in Blue Owl Capital were worth $1,671,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Blue Owl Capital by 79.6% during the 3rd quarter. IFP Advisors Inc now owns 2,096 shares of the company's stock valued at $27,000 after purchasing an additional 929 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Blue Owl Capital by 166.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company's stock valued at $27,000 after purchasing an additional 1,320 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Blue Owl Capital during the 3rd quarter valued at approximately $30,000. Assetmark Inc. bought a new stake in Blue Owl Capital during the 3rd quarter valued at approximately $38,000. Finally, FNY Investment Advisers LLC bought a new stake in Blue Owl Capital during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 42.83% of the company's stock.

Blue Owl Capital Price Performance

Shares of OBDC stock opened at $11.05 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $5.48 billion, a P/E ratio of 15.78 and a beta of 0.62. Blue Owl Capital Corporation has a 12 month low of $10.52 and a 12 month high of $15.19. The stock has a 50 day moving average of $11.23 and a two-hundred day moving average of $11.79.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). The company had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%. As a group, equities analysts expect that Blue Owl Capital Corporation will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 11.2%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital's dividend payout ratio (DPR) is 211.43%.

Blue Owl Capital declared that its board has approved a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OBDC shares. Wells Fargo & Company decreased their target price on Blue Owl Capital from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Truist Financial decreased their target price on Blue Owl Capital from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Wall Street Zen downgraded Blue Owl Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Zacks Research upgraded Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reduced their price objective on Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Blue Owl Capital Profile

Blue Owl Capital Corporation NYSE: OBDC is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company's investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

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