Blue Owl Capital Co. (NYSE:OBDC) Increases Dividend to $0.37 Per Share

Blue Owl Capital Co. (NYSE:OBDC) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.37 per share on Wednesday, January 15th. This represents a $1.48 annualized dividend and a dividend yield of 10.01%. 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 has raised its dividend by an average of 2.6% annually over the last three years. Blue Owl Capital has a dividend payout ratio of 85.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Blue Owl Capital to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 87.6%.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $14.78 on Friday. The stock’s 50-day moving average price is $14.89 and its 200 day moving average price is $15.40. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $5.77 billion, a PE ratio of 9.18 and a beta of 0.86. Blue Owl Capital has a 52-week low of $13.90 and a 52-week high of $16.91.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a return on equity of 12.57% and a net margin of 38.99%. The company had revenue of $396.76 million for the quarter, compared to the consensus estimate of $388.84 million. As a group, equities research analysts forecast that Blue Owl Capital will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a report on Monday, August 12th. Raymond James downgraded shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Truist Financial dropped their target price on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Insider Buying and Selling

In other news, Director Edward H. Dalelio purchased 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at $135,420.32. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.12% of the stock is owned by insiders.

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.