Blue Owl Capital (NYSE:OBDC) Issues Quarterly Earnings Results

Blue Owl Capital (NYSE:OBDC) issued its quarterly earnings data on Wednesday. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02, FiscalAI reports. Blue Owl Capital had a return on equity of 9.38% and a net margin of 16.99%.The company had revenue of $396.00 million for the quarter, compared to analysts’ expectations of $394.23 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share.

Blue Owl Capital Stock Up 3.0%

NYSE:OBDC traded up $0.34 during mid-day trading on Friday, reaching $11.65. The stock had a trading volume of 6,997,219 shares, compared to its average volume of 4,953,520. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 20.78 and a beta of 0.62. Blue Owl Capital has a 1-year low of $10.52 and a 1-year high of $14.44. The stock’s 50 day simple moving average is $10.96 and its two-hundred day simple moving average is $11.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.24 and a quick ratio of 1.24.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Wednesday, September 30th. Blue Owl Capital’s dividend payout ratio (DPR) is 221.43%.

Analyst Upgrades and Downgrades

OBDC has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Truist Financial dropped their price objective on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Capital One Financial set a $13.00 target price on shares of Blue Owl Capital in a research report on Friday, July 24th. Keefe, Bruyette & Woods decreased their target price on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Finally, Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Institutional Trading of Blue Owl Capital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Blue Owl Capital by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock worth $28,211,000 after purchasing an additional 384,641 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Blue Owl Capital during the first quarter valued at $6,641,000. EverSource Wealth Advisors LLC raised its holdings in shares of Blue Owl Capital by 106.1% during the second quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after purchasing an additional 4,494 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Blue Owl Capital by 133.8% during the second quarter. Squarepoint Ops LLC now owns 93,691 shares of the company’s stock worth $1,344,000 after purchasing an additional 53,613 shares during the period. Finally, Diversify Advisory Services LLC lifted its position in shares of Blue Owl Capital by 24.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 16,484 shares of the company’s stock worth $235,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.