Pettinga Financial Advisors LLC Decreases Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Pettinga Financial Advisors LLC trimmed its stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 29.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,760 shares of the company's stock after selling 149,033 shares during the period. Blue Owl Capital makes up 1.2% of Pettinga Financial Advisors LLC's investment portfolio, making the stock its 23rd largest holding. Pettinga Financial Advisors LLC owned about 0.09% of Blue Owl Capital worth $5,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OBDC. National Bank of Canada FI acquired a new stake in Blue Owl Capital during the 2nd quarter worth $26,000. CWM LLC boosted its stake in Blue Owl Capital by 98.6% during the 2nd quarter. CWM LLC now owns 2,079 shares of the company's stock worth $32,000 after purchasing an additional 1,032 shares during the period. Headlands Technologies LLC acquired a new stake in Blue Owl Capital during the 1st quarter worth $40,000. Retirement Group LLC boosted its stake in Blue Owl Capital by 216.8% during the 1st quarter. Retirement Group LLC now owns 3,105 shares of the company's stock worth $48,000 after purchasing an additional 2,125 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Blue Owl Capital during the 2nd quarter worth $61,000. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Down 0.3 %

Shares of OBDC traded down $0.05 during mid-day trading on Friday, hitting $15.15. The company had a trading volume of 1,101,608 shares, compared to its average volume of 1,963,892. The business's 50-day simple moving average is $14.88 and its 200-day simple moving average is $15.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. Blue Owl Capital Co. has a 1-year low of $12.99 and a 1-year high of $16.91. The stock has a market cap of $5.91 billion, a PE ratio of 8.46 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The business 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 43.61% and a return on equity of 12.66%. Sell-side analysts forecast that Blue Owl Capital Co. will post 1.91 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.06 per share. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Monday, September 30th. Blue Owl Capital's payout ratio is currently 82.68%.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio acquired 2,500 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was bought at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the purchase, the director now directly owns 9,016 shares in the company, valued at $135,420.32. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

OBDC has been the subject of several recent analyst reports. Raymond James cut shares of Blue Owl Capital from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th. Compass Point upgraded shares of Blue Owl Capital to a "strong-buy" rating in a research note on Monday, August 19th. Wells Fargo & Company reduced their target price on shares of Blue Owl Capital from $15.50 to $14.00 and set an "underweight" rating for the company in a research note on Friday, August 9th. Royal Bank of Canada restated an "outperform" rating and issued a $17.00 target price on shares of Blue Owl Capital in a research note on Monday, August 12th. Finally, Truist Financial reduced their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blue Owl Capital has an average rating of "Moderate Buy" and an average price target of $15.94.

Blue Owl Capital 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.