Blue Owl Capital (NYSE:OBDC) Hits New 1-Year High at $16.65

Blue Owl Capital Co. (NYSE:OBDC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $16.65 and last traded at $16.65, with a volume of 57269 shares. The stock had previously closed at $16.60.

Analysts Set New Price Targets

OBDC has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Blue Owl Capital from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 13th. Hovde Group raised their price target on 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 reiterated a “market perform” rating and issued a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 23rd. Wells Fargo & Company boosted their target price on Blue Owl Capital from $13.00 to $14.50 and gave the stock an “underweight” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada increased their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Blue Owl Capital has a consensus rating of “Moderate Buy” and an average price target of $16.19.

Blue Owl Capital Price Performance

The company has a market cap of $6.49 billion, a P/E ratio of 8.38 and a beta of 0.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.67 and a current ratio of 1.67. The company has a fifty day moving average price of $15.84 and a two-hundred day moving average price of $15.24.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.88%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.35. Blue Owl Capital’s dividend payout ratio is presently 70.71%.

Insiders Place Their Bets

In other news, Director Edward H. Dalelio acquired 3,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $15.07 per share, for a total transaction of $45,210.00. Following the purchase, the director now directly owns 6,217 shares of the company’s stock, valued at $93,690.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC bought a new position in Blue Owl Capital during the fourth quarter worth $14,919,000. Mackenzie Financial Corp acquired a new position in Blue Owl Capital in the 4th quarter valued at about $795,000. abrdn plc bought a new position in Blue Owl Capital in the 4th quarter valued at about $1,965,000. Koshinski Asset Management Inc. bought a new stake in shares of Blue Owl Capital during the fourth quarter worth approximately $1,170,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Blue Owl Capital in the fourth quarter valued at approximately $1,074,000. 42.83% of the stock is owned by institutional investors and hedge funds.

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.