Blue Owl Capital (NYSE:OBDC) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Blue Owl Capital (NYSE:OBDC) in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $17.00 price target on the stock.

Several other equities analysts have also recently issued reports on OBDC. Truist Financial decreased their price target on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods decreased their price target on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company raised their price target on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.07.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC opened at $15.22 on Tuesday. Blue Owl Capital has a twelve month low of $13.98 and a twelve month high of $16.91. The firm has a market cap of $5.94 billion, a PE ratio of 9.43 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. The business has a fifty day moving average of $14.91 and a 200-day moving average of $15.34.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 9.72%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s dividend payout ratio (DPR) is 91.93%.

Insider Activity

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $15.02 per share, for a total transaction of $37,550.00. Following the acquisition, the director now directly owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. This trade represents a 38.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blue Owl Capital

Institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI acquired a new position in Blue Owl Capital during the 1st quarter worth approximately $1,311,000. Legacy Capital Wealth Partners LLC grew its position in Blue Owl Capital by 96.8% in the third quarter. Legacy Capital Wealth Partners LLC now owns 209,617 shares of the company’s stock valued at $3,054,000 after purchasing an additional 103,123 shares in the last quarter. First National Trust Co increased its stake in Blue Owl Capital by 83.9% in the 3rd quarter. First National Trust Co now owns 141,524 shares of the company’s stock valued at $2,062,000 after buying an additional 64,558 shares during the last quarter. Cetera Investment Advisers lifted its position in Blue Owl Capital by 154.4% during the 1st quarter. Cetera Investment Advisers now owns 111,707 shares of the company’s stock worth $1,718,000 after buying an additional 67,799 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Blue Owl Capital by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock worth $112,754,000 after buying an additional 347,155 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.

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.