Blue Owl Capital Corporation $OBDC Position Trimmed by DNB Asset Management AS

DNB Asset Management AS decreased its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,511 shares of the company’s stock after selling 110,278 shares during the period. DNB Asset Management AS’s holdings in Blue Owl Capital were worth $4,879,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Blue Owl Capital by 79.6% during the third quarter. IFP Advisors Inc now owns 2,096 shares of the company’s stock valued at $27,000 after purchasing an additional 929 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Blue Owl Capital by 166.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,115 shares of the company’s stock valued at $27,000 after purchasing an additional 1,320 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Blue Owl Capital during the third quarter valued at $28,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Blue Owl Capital during the third quarter valued at $30,000. Finally, Assetmark Inc. bought a new stake in Blue Owl Capital during the third quarter valued at $38,000. Institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of OBDC opened at $11.06 on Wednesday. The firm has a 50-day moving average price of $11.23 and a 200 day moving average price of $11.95. The firm has a market capitalization of $5.49 billion, a PE ratio of 15.79 and a beta of 0.64. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital Corporation has a 52-week low of $10.52 and a 52-week high of $15.19.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a net margin of 20.21% and a return on equity of 9.76%. The firm had revenue of $391.00 million for the quarter, compared to the consensus estimate of $422.02 million. On average, sell-side analysts anticipate that Blue Owl Capital Corporation will post 1.28 earnings per share for the current fiscal year.

Blue Owl Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 11.2%. The ex-dividend date is Tuesday, June 30th. Blue Owl Capital’s payout ratio is presently 211.43%.

Blue Owl Capital announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Wall Street Zen lowered shares of Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Truist Financial reduced their price target on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank Of Canada reduced their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.