Blue Owl Capital (NYSE:OBDC) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Blue Owl Capital (NYSE:OBDC) from an underweight rating to an equal weight rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $15.00 price objective on the stock, up from their prior price objective of $14.00.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised shares of Blue Owl Capital from a “moderate sell” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research note on Tuesday, November 19th. Citizens Jmp upgraded shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, February 3rd. Finally, JMP Securities restated an “outperform” rating on shares of Blue Owl Capital in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $16.17.

Blue Owl Capital Stock Performance

Shares of NYSE:OBDC opened at $14.91 on Monday. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 9.74 and a beta of 0.85. The company has a 50-day moving average price of $15.00 and a 200-day moving average price of $15.01. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25. Blue Owl Capital has a 12 month low of $13.98 and a 12 month high of $16.91.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. The company had revenue of $394.39 million during the quarter, compared to the consensus estimate of $395.24 million. As a group, equities analysts anticipate that Blue Owl Capital will post 1.71 EPS for the current year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, March 31st. Blue Owl Capital’s payout ratio is 96.73%.

Insider Activity

In other news, Director Chris Temple purchased 15,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $14.80 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the director now directly owns 51,000 shares in the company, valued at $754,800. This represents a 41.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors have recently made changes to their positions in OBDC. Fifth Third Bancorp boosted its holdings in Blue Owl Capital by 192.2% in the fourth quarter. Fifth Third Bancorp now owns 2,922 shares of the company’s stock worth $44,000 after purchasing an additional 1,922 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in Blue Owl Capital by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 3,000 shares of the company’s stock worth $45,000 after purchasing an additional 1,500 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Blue Owl Capital in the fourth quarter worth approximately $48,000. Lazard Asset Management LLC purchased a new stake in Blue Owl Capital in the fourth quarter worth approximately $49,000. Finally, National Bank of Canada FI boosted its holdings in Blue Owl Capital by 144.7% in the third quarter. National Bank of Canada FI now owns 4,160 shares of the company’s stock worth $61,000 after purchasing an additional 2,460 shares during the last quarter. Hedge funds and other 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.