Blue Owl Capital (NYSE:OBDC) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Blue Owl Capital (NYSE:OBDC) in a report published on Tuesday morning,Benzinga reports. They currently have a $17.00 price objective on the stock.

A number of other research analysts also recently commented on OBDC. Wells Fargo & Company upped their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Truist Financial dropped their price objective on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James lowered shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.07.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC opened at $15.06 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average price is $14.90 and its two-hundred day moving average price is $15.34. Blue Owl Capital has a 52-week low of $13.98 and a 52-week high of $16.91. The stock has a market capitalization of $5.88 billion, a P/E ratio of 9.35 and a beta of 0.86.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 dividend on an annualized basis and a yield of 9.83%. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s dividend payout ratio (DPR) is presently 91.93%.

Insider Transactions at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the stock in a transaction dated Tuesday, August 27th. The shares were bought 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 approximately $135,420.32. This trade represents a 38.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Blue Owl Capital

A number of large investors have recently added to or reduced their stakes in OBDC. Strategies Wealth Advisors LLC boosted its stake in shares of Blue Owl Capital by 2.7% during the 2nd quarter. Strategies Wealth Advisors LLC now owns 28,265 shares of the company’s stock worth $434,000 after acquiring an additional 745 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of Blue Owl Capital by 0.7% in the 2nd quarter. Intellectus Partners LLC now owns 120,846 shares of the company’s stock valued at $1,901,000 after purchasing an additional 809 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in Blue Owl Capital by 2.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 44,212 shares of the company’s stock worth $679,000 after purchasing an additional 881 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Blue Owl Capital by 3.5% during the 3rd quarter. Gilbert & Cook Inc. now owns 29,327 shares of the company’s stock worth $427,000 after buying an additional 1,000 shares during the period. Finally, CWM LLC lifted its stake in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after buying an additional 1,032 shares in the last quarter. 42.83% of the stock is currently 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.