Pettinga Financial Advisors LLC Has $1.16 Million Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• Pettinga Financial Advisors LLC decreased its stake in Blue Owl Capital Corporation by 60.3%, holding 80,639 shares worth approximately $1.16 million as of the last reporting period.
• Analyst ratings for Blue Owl Capital show a consensus of "Buy"** with an average price target of **$15.21**, indicating positive market sentiment towards the stock.
• The company has recently increased its quarterly dividend to $0.02 per share, representing a yield of 0.6%, a positive development from its previous dividend of $0.01.

Pettinga Financial Advisors LLC lowered its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 60.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,639 shares of the company's stock after selling 122,264 shares during the quarter. Pettinga Financial Advisors LLC's holdings in Blue Owl Capital were worth $1,156,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in Blue Owl Capital during the first quarter worth approximately $28,000. Zions Bancorporation National Association UT bought a new stake in Blue Owl Capital during the first quarter worth $59,000. Caitong International Asset Management Co. Ltd bought a new stake in Blue Owl Capital during the first quarter worth $61,000. Bayforest Capital Ltd bought a new position in shares of Blue Owl Capital in the 1st quarter valued at $73,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of Blue Owl Capital by 23.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 5,803 shares of the company's stock valued at $85,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company's stock.

Wall Street Analyst Weigh In

OBDC has been the topic of a number of analyst reports. Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the company an "outperform" rating in a research note on Tuesday, October 7th. LADENBURG THALM/SH SH upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $15.21.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $12.87 on Thursday. Blue Owl Capital Corporation has a 1 year low of $12.04 and a 1 year 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. The company's 50-day moving average is $13.68 and its 200 day moving average is $14.09. The stock has a market capitalization of $6.57 billion, a P/E ratio of 8.52 and a beta of 0.75.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The business had revenue of $485.84 million for the quarter, compared to analysts' expectations of $480.42 million. On average, sell-side analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date was Friday, August 29th. Blue Owl Capital's payout ratio is currently 98.01%.

Blue Owl Capital 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.

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