JPMorgan Chase & Co. Cuts Holdings in Blue Owl Capital Co. (NYSE:OBDC)

JPMorgan Chase & Co. lowered its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,261,947 shares of the company’s stock after selling 201,405 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Blue Owl Capital worth $32,957,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OBDC. National Bank of Canada FI bought a new stake in shares of Blue Owl Capital during the 2nd quarter valued at about $26,000. Zions Bancorporation N.A. bought a new stake in Blue Owl Capital in the 2nd quarter worth approximately $61,000. EverSource Wealth Advisors LLC raised its stake in Blue Owl Capital by 604.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock valued at $65,000 after buying an additional 3,580 shares during the last quarter. nVerses Capital LLC grew its position in Blue Owl Capital by 19.8% during the third quarter. nVerses Capital LLC now owns 9,700 shares of the company’s stock valued at $141,000 after buying an additional 1,600 shares during the period. Finally, Quad Cities Investment Group LLC purchased a new position in Blue Owl Capital during the third quarter valued at $148,000. 42.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on OBDC. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Blue Owl Capital in a research note on Tuesday, November 19th. Wells Fargo & Company increased their target price on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $14.00 target price (down previously from $15.50) on shares of Blue Owl Capital in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.86.

Blue Owl Capital Price Performance

OBDC opened at $14.96 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $15.13 and its 200-day simple moving average is $15.08. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 9.29 and a beta of 0.84. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 9.89%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s dividend payout ratio is presently 91.93%.

Blue Owl Capital Company Profile

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.