Blue Owl Capital Corporation (NYSE:OBDC) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Blue Owl Capital Corporation (NYSE:OBDC – Get Free Report) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.00.

Several analysts recently issued reports on OBDC shares. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen lowered Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods reduced their price target on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, April 16th. Truist Financial decreased their price objective on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada reduced their target price 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.

Read Our Latest Research Report on OBDC

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors have recently added to or reduced their stakes in OBDC. Dynamic Technology Lab Private Ltd purchased a new position in shares of Blue Owl Capital during the third quarter valued at about $1,208,000. Van ECK Associates Corp grew its holdings in Blue Owl Capital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after buying an additional 757,203 shares in the last quarter. Caz Investments LP bought a new stake in Blue Owl Capital in the 3rd quarter worth approximately $14,357,000. Border to Coast Pensions Partnership Ltd raised its holdings in shares of Blue Owl Capital by 19.2% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,550,000 shares of the company’s stock worth $19,793,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Blue Owl Capital by 13.0% during the 4th quarter. Tectonic Advisors LLC now owns 1,043,827 shares of the company’s stock valued at $12,975,000 after acquiring an additional 119,798 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

Shares of OBDC opened at $11.03 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital has a 1-year low of $10.52 and a 1-year high of $15.19. The firm has a market cap of $5.47 billion, a PE ratio of 15.75 and a beta of 0.62. The firm has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $11.84.

Blue Owl Capital (NYSE:OBDC – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The firm had revenue of $391.00 million during the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. On average, equities analysts anticipate that Blue Owl Capital will post 1.27 EPS for the current year.

Blue Owl Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.2%. Blue Owl Capital’s dividend payout ratio is 211.43%.

Blue Owl Capital announced that its board has initiated a stock repurchase program on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About Blue Owl Capital

(Get Free Report)

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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