Pettinga Financial Advisors LLC Decreases Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Pettinga Financial Advisors LLC lowered its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 29.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,760 shares of the company’s stock after selling 149,033 shares during the period. Blue Owl Capital comprises 1.2% of Pettinga Financial Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Pettinga Financial Advisors LLC owned about 0.09% of Blue Owl Capital worth $5,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Blue Owl Capital during the second quarter worth $26,000. CWM LLC grew its stake in Blue Owl Capital by 98.6% during the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Blue Owl Capital in the 1st quarter valued at about $40,000. Retirement Group LLC lifted its stake in Blue Owl Capital by 216.8% in the 1st quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock worth $48,000 after purchasing an additional 2,125 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Blue Owl Capital during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OBDC. Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Monday, August 12th. Finally, 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 report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.94.

Blue Owl Capital Stock Performance

Shares of OBDC stock opened at $15.14 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $5.91 billion, a P/E ratio of 8.46 and a beta of 0.87. The firm’s 50 day moving average price is $14.88 and its 200-day moving average price is $15.44. Blue Owl Capital Co. has a one year low of $12.99 and a one year high of $16.91.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. The company had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. As a group, equities research analysts predict that Blue Owl Capital Co. will post 1.91 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.59%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is 82.68%.

Insider Buying and Selling at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio purchased 2,500 shares of Blue Owl Capital stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the transaction, the director now owns 9,016 shares of the company’s stock, valued at $135,420.32. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.12% of the stock is currently owned by corporate insiders.

Blue Owl Capital 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.