Blue Owl Capital Co. (OBDC) to Issue Quarterly Dividend of $0.37 on October 15th

by · The Cerbat Gem

Blue Owl Capital Co. (NYSE:OBDC – Get Free Report) announced a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Investors of record on Monday, September 30th will be given a dividend of 0.37 per share on Tuesday, October 15th. This represents a $1.48 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05.

Blue Owl Capital has increased its dividend by an average of 2.6% per year over the last three years. Blue Owl Capital has a dividend payout ratio of 85.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Blue Owl Capital to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 82.2%.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $15.00 on Friday. The firm has a market cap of $5.85 billion, a PE ratio of 7.58 and a beta of 0.87. Blue Owl Capital has a twelve month low of $12.99 and a twelve month high of $16.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $14.89 and a 200 day moving average price of $15.49.

Blue Owl Capital (NYSE:OBDC – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. The firm had revenue of $396.76 million for the quarter, compared to analyst estimates of $388.84 million. Sell-side analysts predict that Blue Owl Capital will post 1.93 earnings per share for the current fiscal year.

Insider Transactions at Blue Owl Capital

In related news, Director Edward H. Dalelio bought 2,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OBDC. Wells Fargo & Company dropped their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Truist Financial reduced their target price on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.94.

Read Our Latest Analysis on OBDC

About Blue Owl Capital

(Get Free Report)

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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