Royal Bank of Canada Reaffirms Outperform Rating for Blue Owl Capital (NYSE:OBDC)

Royal Bank of Canada restated their outperform rating on shares of Blue Owl Capital (NYSE:OBDC) in a research report sent to investors on Monday, Benzinga reports. They currently have a $17.00 price objective on the stock.

OBDC has been the subject of a number of other research reports. Hovde Group boosted 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 note on Friday, May 10th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $16.00 target price on shares of Blue Owl Capital in a research report on Thursday, May 23rd. 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 cut their price objective on Blue Owl Capital from $15.50 to $14.00 and set an underweight rating for the company in a report on Friday, August 9th. Finally, Truist Financial reduced their price objective on Blue Owl Capital from $18.00 to $17.00 and set a buy rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Blue Owl Capital presently has a consensus rating of Hold and an average target price of $16.00.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $14.28 on Monday. Blue Owl Capital has a 12-month low of $12.99 and a 12-month high of $16.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.57 billion, a PE ratio of 7.21 and a beta of 0.87. The stock has a 50-day moving average price of $15.45 and a 200-day moving average price of $15.52.

Blue Owl Capital Increases Dividend

The firm 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 is Friday, August 30th. This represents a $0.24 annualized dividend and a yield of 1.68%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio (DPR) is 74.75%.

Hedge Funds Weigh In On Blue Owl Capital

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in Blue Owl Capital in the 4th quarter worth $2,180,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Blue Owl Capital in the 4th quarter worth approximately $241,000. Bleakley Financial Group LLC purchased a new position in shares of Blue Owl Capital in the fourth quarter worth $166,000. Cerity Partners LLC bought a new position in Blue Owl Capital during the 4th quarter valued at about $5,274,000. Finally, Perigon Wealth Management LLC bought a new position in Blue Owl Capital during the fourth quarter valued at approximately $332,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

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.