Tectonic Advisors LLC Increases Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Tectonic Advisors LLC lifted its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 21.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 528,492 shares of the company’s stock after purchasing an additional 93,478 shares during the period. Tectonic Advisors LLC’s holdings in Blue Owl Capital were worth $7,700,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OBDC. Goldman Sachs Group Inc. bought a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $16,207,000. Citizens Financial Group Inc. RI acquired a new position in Blue Owl Capital during the 1st quarter valued at approximately $1,311,000. Cetera Investment Advisers increased its stake in Blue Owl Capital by 154.4% during the 1st quarter. Cetera Investment Advisers now owns 111,707 shares of the company’s stock valued at $1,718,000 after purchasing an additional 67,799 shares in the last quarter. Entropy Technologies LP increased its stake in Blue Owl Capital by 120.3% during the 1st quarter. Entropy Technologies LP now owns 102,083 shares of the company’s stock valued at $1,570,000 after purchasing an additional 55,755 shares in the last quarter. Finally, Granite FO LLC acquired a new position in Blue Owl Capital during the 2nd quarter valued at approximately $1,226,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward H. Dalelio acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the transaction, the director now owns 9,016 shares in the company, valued at approximately $135,420.32. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OBDC shares. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research note on Monday, August 12th. Wells Fargo & Company dropped their price objective on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price objective 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. 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. Finally, Raymond James downgraded shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.94.

Blue Owl Capital Price Performance

Shares of NYSE OBDC opened at $15.19 on Friday. The firm has a 50-day simple moving average of $14.86 and a 200-day simple moving average of $15.44. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 8.49 and a beta of 0.87. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. Blue Owl Capital Co. has a 52 week low of $12.99 and a 52 week high of $16.91.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a net margin of 43.61% and a return on equity of 12.66%. The firm had revenue of $396.76 million during the quarter, compared to analysts’ expectations of $388.84 million. On average, equities analysts predict that Blue Owl Capital Co. will post 1.91 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.06 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 82.68%.

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.