Wells Fargo & Company Upgrades Blue Owl Capital (NYSE:OBDC) to “Equal Weight”

Wells Fargo & Company upgraded shares of Blue Owl Capital (NYSE:OBDC) from an underweight rating to an equal weight rating in a research note released on Monday morning, MarketBeat reports. The brokerage currently has $15.00 price target on the stock, up from their previous price target of $14.00.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 target price on shares of Blue Owl Capital in a research note on Tuesday, November 19th. JMP Securities reaffirmed an “outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods raised Blue Owl Capital from a “moderate sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Citizens Jmp raised Blue Owl Capital to a “strong-buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

Blue Owl Capital Trading Up 0.5 %

NYSE:OBDC opened at $15.00 on Monday. The business has a fifty day moving average of $15.01 and a 200-day moving average of $15.01. Blue Owl Capital has a 1 year low of $13.98 and a 1 year high of $16.91. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 9.80 and a beta of 0.85. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. The business had revenue of $394.39 million during the quarter, compared to analysts’ expectations of $395.24 million. Equities analysts predict that Blue Owl Capital will post 1.71 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, March 31st. Blue Owl Capital’s dividend payout ratio is 96.73%.

Insider Buying and Selling

In other news, Director Chris Temple bought 15,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $14.80 per share, with a total value of $222,000.00. Following the transaction, the director now directly owns 51,000 shares in the company, valued at approximately $754,800. This trade represents a 41.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OBDC. CAP Partners LLC increased its position in Blue Owl Capital by 16.9% in the 3rd quarter. CAP Partners LLC now owns 17,476 shares of the company’s stock worth $255,000 after purchasing an additional 2,522 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Blue Owl Capital by 9.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 63,747 shares of the company’s stock valued at $929,000 after acquiring an additional 5,415 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Blue Owl Capital by 16.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 334,775 shares of the company’s stock valued at $4,878,000 after acquiring an additional 48,136 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Blue Owl Capital by 27.9% during the 3rd quarter. Raymond James Trust N.A. now owns 28,657 shares of the company’s stock valued at $418,000 after acquiring an additional 6,251 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Blue Owl Capital by 3,524.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 579,799 shares of the company’s stock valued at $8,448,000 after acquiring an additional 563,800 shares during the last quarter. 42.83% of the stock is owned by institutional investors and hedge funds.

About Blue Owl Capital

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.