Royal Bank of Canada Increases Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Royal Bank of Canada increased its stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,387,300 shares of the company's stock after purchasing an additional 620,521 shares during the period. Royal Bank of Canada owned 1.89% of Blue Owl Capital worth $111,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Blue Owl Capital by 192.2% during the 4th quarter. Fifth Third Bancorp now owns 2,922 shares of the company's stock valued at $44,000 after acquiring an additional 1,922 shares during the period. Anchor Investment Management LLC lifted its stake in Blue Owl Capital by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 3,000 shares of the company's stock valued at $45,000 after acquiring an additional 1,500 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Blue Owl Capital during the 4th quarter valued at approximately $48,000. Lazard Asset Management LLC acquired a new stake in Blue Owl Capital during the 4th quarter valued at approximately $49,000. Finally, Millstone Evans Group LLC acquired a new stake in Blue Owl Capital during the 4th quarter valued at approximately $76,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, Director Chris Temple bought 15,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $14.80 per share, with a total value of $222,000.00. Following the completion of the acquisition, the director now directly owns 51,000 shares of the company's stock, valued at $754,800. This represents a 41.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OBDC. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group initiated coverage on shares of Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Citizens Jmp upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, B. Riley initiated coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $15.64.

Blue Owl Capital Price Performance

NYSE:OBDC traded up $0.10 during trading hours on Friday, reaching $14.34. 2,097,755 shares of the company were exchanged, compared to its average volume of 2,607,276. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25. The stock's 50-day moving average is $14.15 and its 200-day moving average is $14.75. The firm has a market cap of $7.33 billion, a PE ratio of 9.37 and a beta of 0.71. Blue Owl Capital Co. has a twelve month low of $12.11 and a twelve month high of $16.91.

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 analysts' consensus estimates of $0.43 by ($0.04). The company had revenue of $464.65 million for the quarter, compared to analyst estimates of $457.88 million. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. On average, sell-side analysts anticipate that Blue Owl Capital Co. will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.01 per share. This represents a yield of 11.51%. The ex-dividend date of this dividend is Friday, May 30th. Blue Owl Capital's dividend payout ratio is presently 95.48%.

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.