Truist Financial Cuts Blue Owl Capital (NYSE:OBDC) Price Target to $17.00

Blue Owl Capital (NYSE:OBDC) had its price objective lowered by Truist Financial from $18.00 to $17.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

OBDC has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a market perform rating and set a $16.00 price objective on shares of Blue Owl Capital in a report on Thursday, May 23rd. Royal Bank of Canada increased their price target on Blue Owl Capital from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Friday, May 17th. Raymond James downgraded Blue Owl Capital from an outperform rating to a market perform rating in a report on Friday. Finally, Hovde Group increased their target price on shares of Blue Owl Capital from $16.00 to $17.00 and gave the stock an outperform rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blue Owl Capital presently has an average rating of Hold and a consensus target price of $16.00.

Blue Owl Capital Stock Down 0.8 %

Shares of NYSE:OBDC opened at $14.38 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 7.26 and a beta of 0.87. The business has a 50 day simple moving average of $15.54 and a two-hundred day simple moving average of $15.54. Blue Owl Capital has a 1 year low of $12.99 and a 1 year high of $16.91. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.67 and a quick ratio of 1.67.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.06 dividend. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, August 30th. Blue Owl Capital’s payout ratio is currently 74.75%.

Hedge Funds Weigh In On Blue Owl Capital

Several hedge funds have recently modified their holdings of OBDC. International Assets Investment Management LLC acquired a new position in Blue Owl Capital during the 4th quarter valued at approximately $2,180,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Blue Owl Capital in the 4th quarter valued at $405,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Blue Owl Capital in the 4th quarter worth $241,000. Bleakley Financial Group LLC acquired a new stake in Blue Owl Capital during the 4th quarter worth about $166,000. Finally, Cerity Partners LLC purchased a new stake in Blue Owl Capital during the 4th quarter valued at about $5,274,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Company 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.