Van ECK Associates Corp Has $170.66 Million Stock Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• VanECK Associates raised its stake in Blue Owl Capital by 6.0% to 13,364,378 shares (about $170.66 million), adding 757,203 shares during the quarter and owning roughly 2.62% of the company.
• Blue Owl declared a quarterly dividend of $0.37 (annualized $1.48) implying a 13.0% yield but a payout ratio of 119.35%, and its board approved a $300 million share buyback (≈5.1% of outstanding shares).
• Several analysts trimmed price targets, yet the consensus remains a Moderate Buy with an average target of $14.06; the stock trades near $11.36 with a P/E of 9.16 and a recent quarterly EPS of $0.36 (beat by $0.01).

Van ECK Associates Corp raised its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,364,378 shares of the company's stock after buying an additional 757,203 shares during the quarter. Van ECK Associates Corp owned 2.62% of Blue Owl Capital worth $170,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OBDC. Atlantic Union Bankshares Corp bought a new position in Blue Owl Capital in the third quarter valued at approximately $28,000. Assetmark Inc. acquired a new position in shares of Blue Owl Capital during the 3rd quarter worth approximately $38,000. First Horizon Advisors Inc. bought a new stake in shares of Blue Owl Capital in the 2nd quarter valued at about $40,000. Root Financial Partners LLC bought a new position in Blue Owl Capital during the third quarter worth $47,000. Finally, Allworth Financial LP raised its holdings in Blue Owl Capital by 24,533.3% in the 2nd quarter. Allworth Financial LP now owns 3,695 shares of the company's stock valued at $53,000 after acquiring an additional 3,680 shares during the period. Institutional investors and hedge funds own 42.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on OBDC shares. Truist Financial lowered their target price on shares of Blue Owl Capital from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada lowered their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $13.50 to $12.50 and set a "market perform" rating on the stock in a research report on Monday, February 23rd. Wall Street Zen downgraded Blue Owl Capital from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Zacks Research raised shares of Blue Owl Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.06.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $11.36 on Wednesday. The firm has a market capitalization of $5.67 billion, a P/E ratio of 9.16 and a beta of 0.67. Blue Owl Capital Corporation has a 52 week low of $10.70 and a 52 week high of $15.36. The stock has a 50 day moving average price of $11.96 and a two-hundred day moving average price of $12.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The business had revenue of $439.50 million during the quarter, compared to the consensus estimate of $454.38 million. Equities analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.48 annualized dividend and a yield of 13.0%. Blue Owl Capital's dividend payout ratio (DPR) is 119.35%.

Blue Owl Capital announced that its board has approved a share buyback program on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase 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 stock is undervalued.

About Blue Owl Capital

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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