Truist Financial Cuts Blue Owl Capital (NYSE:OBDC) Price Target to $17.00

Blue Owl Capital (NYSE:OBDC) had its price target cut by Truist Financial from $18.00 to $17.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on OBDC. Raymond James cut shares of Blue Owl Capital from an outperform rating to a market perform rating in a research report on Friday. Hovde Group upped their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada upped their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $16.00.

Blue Owl Capital Trading Down 0.5 %

Shares of NYSE OBDC traded down $0.08 during trading on Friday, hitting $14.50. 2,951,570 shares of the company traded hands, compared to its average volume of 2,038,957. Blue Owl Capital has a 1 year low of $12.99 and a 1 year high of $16.91. The company has a 50-day moving average price of $15.58 and a 200-day moving average price of $15.54. The firm has a market capitalization of $5.65 billion, a P/E ratio of 7.32 and a beta of 0.87. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.14.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. The company had revenue of $399.58 million for the quarter, compared to analysts’ expectations of $399.16 million. On average, equities analysts predict that Blue Owl Capital will post 1.88 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.66%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s payout ratio is currently 74.75%.

Hedge Funds Weigh In On Blue Owl Capital

A number of institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund E acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $335,810,000. Van ECK Associates Corp acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $100,726,000. Transcend Capital Advisors LLC acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $56,354,000. LSV Asset Management acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $51,197,000. Finally, Hamilton Lane Advisors LLC acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at about $47,997,000. Institutional investors and hedge funds 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.