Wells Fargo & Company Raises Blue Owl Capital (NYSE:OBDC) Price Target to $14.50

Blue Owl Capital (NYSE:OBDC) had its price target hoisted by Wells Fargo & Company from $14.00 to $14.50 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research report on Monday, August 12th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Truist Financial reduced their price target on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $14.80 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $14.92 and a two-hundred day simple moving average of $15.43. Blue Owl Capital has a 1-year low of $13.60 and a 1-year high of $16.91. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 8.27 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $396.76 million during the quarter, compared to the consensus estimate of $388.84 million. Analysts anticipate that Blue Owl Capital will post 1.91 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, September 30th. Blue Owl Capital’s payout ratio is presently 82.68%.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio bought 2,500 shares of Blue Owl Capital stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the completion of the purchase, the director now owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Blue Owl Capital

A number of institutional investors have recently bought and sold shares of OBDC. Boston Partners purchased a new position in shares of Blue Owl Capital during the 1st quarter worth approximately $15,010,000. LSV Asset Management grew its stake in Blue Owl Capital by 17.3% in the first quarter. LSV Asset Management now owns 4,069,047 shares of the company’s stock worth $62,582,000 after purchasing an additional 600,447 shares during the period. Cercano Management LLC bought a new position in Blue Owl Capital in the first quarter worth $5,932,000. Van ECK Associates Corp lifted its position in Blue Owl Capital by 4.9% during the third quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock valued at $112,754,000 after buying an additional 347,155 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Blue Owl Capital by 84.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 492,532 shares of the company’s stock valued at $7,575,000 after buying an additional 225,608 shares in the last quarter. 42.83% of the stock is owned by institutional investors.

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.