Blue Owl Capital (NYSE:OBDC) Upgraded by Wells Fargo & Company to "Equal Weight" Rating

Wells Fargo & Company upgraded shares of Blue Owl Capital (NYSE:OBDC - Free Report) from an underweight rating to an equal weight rating in a research note published on Monday morning, MarketBeat reports. Wells Fargo & Company currently has $15.00 target price on the stock, up from their prior target price of $14.00.

OBDC has been the subject of several other research reports. Keefe, Bruyette & Woods upgraded shares of Blue Owl Capital from a "moderate sell" rating to a "hold" rating in a research report on Friday, February 21st. Citizens Jmp upgraded Blue Owl Capital to a "strong-buy" rating in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $17.00 target price on shares of Blue Owl Capital in a report on Tuesday, November 19th. Finally, JMP Securities reaffirmed an "outperform" rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.17.

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Blue Owl Capital Trading Down 0.4 %

Shares of OBDC stock traded down $0.06 on Monday, reaching $15.02. 10,922,128 shares of the stock were exchanged, compared to its average volume of 2,282,471. The stock has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.01. The stock has a market cap of $7.67 billion, a PE ratio of 9.81 and a beta of 0.85. Blue Owl Capital has a one year low of $13.98 and a one year high of $16.91. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 1.28.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. The company had revenue of $394.39 million for the quarter, compared to the consensus estimate of $395.24 million. Equities research analysts forecast that Blue Owl Capital will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Monday, March 31st. Blue Owl Capital's dividend payout ratio (DPR) is presently 96.73%.

Insider Buying and Selling

In related news, Director Chris Temple bought 15,000 shares of Blue Owl Capital stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $14.80 per share, with a total value of $222,000.00. Following the purchase, the director now owns 51,000 shares in the company, valued at approximately $754,800. This trade represents a 41.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is owned by company insiders.

Institutional Trading of Blue Owl Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Blue Owl Capital by 19.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,627 shares of the company's stock valued at $705,000 after buying an additional 7,522 shares during the last quarter. Palogic Value Management L.P. raised its holdings in shares of Blue Owl Capital by 7.8% in the fourth quarter. Palogic Value Management L.P. now owns 117,536 shares of the company's stock valued at $1,777,000 after purchasing an additional 8,553 shares during the last quarter. Liberty Square Wealth Partners LLC bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $386,000. Ameriflex Group Inc. acquired a new position in Blue Owl Capital during the fourth quarter worth $541,000. Finally, Lantern Wealth Advisors LLC bought a new position in Blue Owl Capital in the fourth quarter valued at $640,000. Institutional investors and hedge funds own 42.83% of the company's stock.

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.