Blue Owl Capital (NYSE:OBDC) Given Outperform Rating at Royal Bank of Canada

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

A number of other analysts have also recently commented on OBDC. Keefe, Bruyette & Woods cut their price target on shares of 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 cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Wells Fargo & Company raised 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 note on Tuesday, October 29th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Finally, Truist Financial cut their target price on shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average price target of $16.07.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $15.22 on Tuesday. The stock has a market cap of $5.94 billion, a P/E ratio of 9.43 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.28 and a quick ratio of 1.28. The company has a fifty day moving average price of $14.91 and a two-hundred day moving average price of $15.34. Blue Owl Capital has a one year low of $13.98 and a one year high of $16.91.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 9.72%. Blue Owl Capital’s payout ratio is 91.93%.

Insiders Place Their Bets

In other news, Director Edward H. Dalelio bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, with a total value of $37,550.00. Following the acquisition, the director now directly owns 9,016 shares in the company, valued at $135,420.32. This represents a 38.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in Blue Owl Capital in the second quarter valued at approximately $26,000. CWM LLC increased its stake in Blue Owl Capital by 98.6% in the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares during the last quarter. Rothschild Investment LLC bought a new position in Blue Owl Capital in the second quarter valued at approximately $61,000. Zions Bancorporation N.A. bought a new position in Blue Owl Capital in the second quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC increased its stake in Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock valued at $65,000 after acquiring an additional 3,580 shares during the last quarter. 42.83% of the stock is owned by institutional investors.

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.