Blue Owl Capital Corporation (NYSE:OBDC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Blue Owl Capital Corporation (NYSE:OBDC) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $13.00.

OBDC has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Truist Financial decreased their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Royal Bank Of Canada decreased their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Wall Street Zen lowered shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th.

Hedge Funds Weigh In On Blue Owl Capital

A number of institutional investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors raised its holdings in Blue Owl Capital by 4.2% in the 1st quarter. Arkadios Wealth Advisors now owns 496,640 shares of the company’s stock worth $5,493,000 after purchasing an additional 19,969 shares during the period. Sunbelt Securities Inc. raised its holdings in Blue Owl Capital by 82.4% in the 1st quarter. Sunbelt Securities Inc. now owns 41,273 shares of the company’s stock worth $456,000 after purchasing an additional 18,650 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Blue Owl Capital by 102.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,159 shares of the company’s stock worth $90,000 after purchasing an additional 4,134 shares during the period. Rivernorth Capital Management LLC raised its holdings in Blue Owl Capital by 181.6% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,426,822 shares of the company’s stock worth $15,781,000 after purchasing an additional 920,180 shares during the period. Finally, Enstar Group LTD raised its holdings in Blue Owl Capital by 2.9% in the 1st quarter. Enstar Group LTD now owns 601,787 shares of the company’s stock worth $6,656,000 after purchasing an additional 17,207 shares during the period. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

OBDC stock opened at $11.27 on Friday. The stock has a market capitalization of $5.59 billion, a PE ratio of 16.10 and a beta of 0.64. Blue Owl Capital has a 12-month low of $10.52 and a 12-month high of $15.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The stock’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $11.87.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $391.00 million during the quarter, compared to the consensus estimate of $422.02 million. Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. As a group, research analysts forecast that Blue Owl Capital will post 1.27 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.24 dividend on an annualized basis and a yield of 11.0%. Blue Owl Capital’s payout ratio is currently 211.43%.

Blue Owl Capital announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.