Truist Financial Corp Boosts Stake in Blue Owl Capital Corporation $OBDC

Truist Financial Corp boosted its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,889 shares of the company’s stock after buying an additional 3,094 shares during the quarter. Truist Financial Corp’s holdings in Blue Owl Capital were worth $1,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Blue Owl Capital in the 1st quarter valued at about $28,000. Zions Bancorporation National Association UT purchased a new position in Blue Owl Capital in the 1st quarter valued at about $59,000. Caitong International Asset Management Co. Ltd purchased a new position in Blue Owl Capital in the 1st quarter valued at about $61,000. Bayforest Capital Ltd purchased a new position in Blue Owl Capital in the 1st quarter valued at about $73,000. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Blue Owl Capital by 23.4% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 5,803 shares of the company’s stock valued at $85,000 after buying an additional 1,100 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James Financial set a $14.00 price target on shares of Blue Owl Capital and gave the company an “outperform” rating in a research note on Tuesday, October 7th. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.21.

Blue Owl Capital Stock Down 0.8%

OBDC stock opened at $12.13 on Monday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 8.03 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 firm has a 50-day moving average of $13.76 and a two-hundred day moving average of $14.12.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $485.84 million during the quarter, compared to the consensus estimate of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. As a group, analysts forecast 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 declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.01. Blue Owl Capital’s dividend payout ratio is presently 98.01%.

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.