First National Trust Co Buys 65,063 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Key Points

• First National Trust Co increased its stake in Blue Owl Capital Corporation by 44.9%, owning 210,084 shares valued at $3,080,000 following the purchase of an additional 65,063 shares in the first quarter.
• Blue Owl Capital's recent quarter earnings fell short of analysts' expectations, reporting $0.39 EPS against the consensus estimate of $0.43, despite generating revenue of $464.65 million.
• The company recently announced a dividend of $0.01 per share with a high yield of 11.51%, although its payout ratio stands at a significant 95.48%.

First National Trust Co grew its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 44.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,084 shares of the company's stock after purchasing an additional 65,063 shares during the quarter. First National Trust Co's holdings in Blue Owl Capital were worth $3,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OBDC. Golden State Equity Partners raised its position in shares of Blue Owl Capital by 1.7% in the 1st quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock valued at $670,000 after buying an additional 742 shares in the last quarter. BlueStem Wealth Partners LLC increased its stake in shares of Blue Owl Capital by 2.5% in the 1st quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock valued at $480,000 after purchasing an additional 784 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Blue Owl Capital by 6.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock worth $204,000 after buying an additional 798 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Blue Owl Capital by 2.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock worth $548,000 after buying an additional 996 shares during the last quarter. Finally, Essex Financial Services Inc. raised its stake in Blue Owl Capital by 3.3% during the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after acquiring an additional 1,000 shares in the last quarter. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Up 0.2%

OBDC traded up $0.03 during trading on Monday, hitting $14.11. 1,286,558 shares of the company's stock were exchanged, compared to its average volume of 3,255,657. The stock has a market cap of $7.21 billion, a P/E ratio of 9.10 and a beta of 0.74. The business's 50 day moving average is $14.59 and its two-hundred day moving average is $14.57. Blue Owl Capital Corporation has a fifty-two week low of $12.11 and a fifty-two week high of $15.73. 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 (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a return on equity of 11.72% and a net margin of 39.42%. As a group, equities analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 1,151.0%. Blue Owl Capital's dividend payout ratio is presently 95.48%.

Insider Buying and Selling at Blue Owl Capital

In other Blue Owl Capital news, Director Victor Woolridge purchased 6,915 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $14.45 per share, for a total transaction of $99,921.75. Following the purchase, the director owned 28,191 shares of the company's stock, valued at $407,359.95. This represents a 32.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

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

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.