Blue Owl Capital Co. (NYSE:OBDC) Raises Dividend to $0.37 Per Share

Blue Owl Capital Co. (NYSE:OBDC - Get Free Report) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.37 per share on Wednesday, January 15th. This represents a $1.48 annualized dividend and a yield of 10.01%. The ex-dividend date is Tuesday, December 31st. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.06.

Blue Owl Capital has raised its dividend by an average of 2.6% per year over the last three years. Blue Owl Capital has a dividend payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect Blue Owl Capital to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 87.6%.

Blue Owl Capital Trading Down 0.3 %

Shares of Blue Owl Capital stock traded down $0.05 during trading on Friday, hitting $14.78. The stock had a trading volume of 1,766,719 shares, compared to its average volume of 1,462,065. Blue Owl Capital has a 1 year low of $13.90 and a 1 year high of $16.91. The stock has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $15.40. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $5.77 billion, a PE ratio of 9.18 and a beta of 0.86.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $396.76 million for the quarter, compared to analysts' expectations of $388.84 million. Blue Owl Capital had a net margin of 38.99% and a return on equity of 12.57%. On average, research analysts expect that Blue Owl Capital will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares of the company's stock, valued at approximately $135,420.32. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OBDC. Compass Point upgraded Blue Owl Capital to a "strong-buy" rating in a report on Monday, August 19th. Truist Financial lowered their target price on Blue Owl Capital from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company increased their price target on shares of Blue Owl Capital from $14.00 to $14.50 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Raymond James cut shares of Blue Owl Capital from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $17.00 price objective on shares of Blue Owl Capital in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

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.