Castle Wealth Management LLC Grows Stock Position in Blue Owl Capital Corporation $OBDC

Castle Wealth Management LLC boosted its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 36.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,877 shares of the company’s stock after buying an additional 6,972 shares during the period. Castle Wealth Management LLC’s holdings in Blue Owl Capital were worth $381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC purchased a new stake in Blue Owl Capital during the 2nd quarter valued at $734,619,000. Oregon Public Employees Retirement Fund raised its holdings in Blue Owl Capital by 222.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,098,695 shares of the company’s stock valued at $236,007,000 after buying an additional 11,098,695 shares during the period. Cresset Asset Management LLC increased its stake in Blue Owl Capital by 85.8% in the first quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company’s stock worth $123,979,000 after purchasing an additional 3,809,000 shares during the period. Royal Bank of Canada boosted its position in Blue Owl Capital by 3.0% in the 1st quarter. Royal Bank of Canada now owns 7,608,871 shares of the company’s stock valued at $111,546,000 after buying an additional 221,571 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Blue Owl Capital by 8.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,190,522 shares of the company’s stock valued at $76,083,000 after buying an additional 403,784 shares during the period. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of Blue Owl Capital stock opened at $12.97 on Thursday. The firm has a market cap of $6.63 billion, a P/E ratio of 8.59 and a beta of 0.75. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20. Blue Owl Capital Corporation has a 12 month low of $12.04 and a 12 month high of $15.73. The stock’s fifty day moving average price is $13.54 and its 200-day moving average price is $14.03.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The company had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. On average, equities research analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, August 29th. Blue Owl Capital’s dividend payout ratio is presently 98.01%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OBDC. Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Friday, August 8th. Finally, Raymond James Financial set a $14.00 price objective on shares of Blue Owl Capital and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and an average target price of $15.21.

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.