Blue Owl Capital (NYSE:OWL) Trading 4.8% Higher Following Analyst Upgrade

Blue Owl Capital Inc. (NYSE:OWL) traded up 4.8% during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $21.00 to $24.00. Oppenheimer currently has an outperform rating on the stock. Blue Owl Capital traded as high as $23.44 and last traded at $23.42. 4,778,356 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 5,217,689 shares. The stock had previously closed at $22.35.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Blue Owl Capital from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JMP Securities upped their target price on Blue Owl Capital from $24.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Evercore ISI upped their target price on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen reissued a “hold” rating and issued a $19.00 target price (down from $21.50) on shares of Blue Owl Capital in a research report on Monday, July 8th. Finally, Wells Fargo & Company upped their target price on Blue Owl Capital from $18.50 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.15.

Institutional Trading of Blue Owl Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in OWL. Capital World Investors raised its stake in shares of Blue Owl Capital by 0.3% during the 1st quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock worth $1,194,576,000 after buying an additional 163,377 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Blue Owl Capital by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 40,731,640 shares of the company’s stock worth $768,199,000 after buying an additional 250,977 shares in the last quarter. Capital International Investors raised its stake in shares of Blue Owl Capital by 0.3% during the 1st quarter. Capital International Investors now owns 33,284,962 shares of the company’s stock worth $627,754,000 after buying an additional 107,321 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Blue Owl Capital by 11.9% during the 1st quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock worth $198,268,000 after buying an additional 1,121,064 shares in the last quarter. Finally, Stone Point Capital LLC purchased a new position in shares of Blue Owl Capital during the 2nd quarter worth approximately $112,749,000. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Up 4.9 %

The firm has a market capitalization of $33.51 billion, a PE ratio of 195.42, a P/E/G ratio of 1.29 and a beta of 1.18. The business has a 50 day moving average price of $18.59 and a 200-day moving average price of $18.36.

Blue Owl Capital (NYSE:OWL) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $549.85 million during the quarter, compared to the consensus estimate of $507.22 million. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. During the same period in the prior year, the business posted $0.16 EPS. On average, equities research analysts forecast that Blue Owl Capital Inc. will post 0.79 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, August 21st. Blue Owl Capital’s dividend payout ratio is currently 600.00%.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.