Blue Owl Capital’s (OBDC) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Blue Owl Capital (NYSE:OBDC) in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $17.00 price target on the stock.

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

Blue Owl Capital Stock Performance

OBDC opened at $15.04 on Tuesday. The firm has a market cap of $5.87 billion, a P/E ratio of 9.34 and a beta of 0.86. Blue Owl Capital has a 1-year low of $13.98 and a 1-year high of $16.91. The company has a 50 day simple moving average of $14.89 and a two-hundred day simple moving average of $15.34. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.28 and a quick ratio of 1.28.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 9.84%. 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’s payout ratio is currently 91.93%.

Insiders Place Their Bets

In related news, Director Edward H. Dalelio acquired 2,500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. National Bank of Canada FI bought a new position in Blue Owl Capital in the second quarter worth approximately $26,000. CWM LLC lifted its position in shares of 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 during the last quarter. Rothschild Investment LLC acquired a new stake in Blue Owl Capital in the second quarter valued at approximately $61,000. Zions Bancorporation N.A. purchased a new position in Blue Owl Capital during the 2nd quarter worth $61,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Blue Owl Capital by 604.7% during the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after acquiring an additional 3,580 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

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.