Blue Owl Capital Co. (NYSE:OBDC) Plans Quarterly Dividend of $0.37

Blue Owl Capital Co. (NYSE:OBDC) announced a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.37 per share on Tuesday, October 15th. This represents a $1.48 annualized dividend and a dividend yield of 9.87%. The ex-dividend date is Monday, September 30th. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05.

Blue Owl Capital has raised its dividend by an average of 2.6% annually over the last three years. Blue Owl Capital has a dividend payout ratio of 85.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Blue Owl Capital to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 86.5%.

Blue Owl Capital Price Performance

Shares of OBDC opened at $15.00 on Friday. The company has a market cap of $5.85 billion, a P/E ratio of 7.58 and a beta of 0.87. Blue Owl Capital has a fifty-two week low of $12.99 and a fifty-two week high of $16.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average price is $14.89 and its 200 day moving average price is $15.50.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. The business had revenue of $396.76 million for the quarter, compared to analysts’ expectations of $388.84 million. On average, research analysts forecast that Blue Owl Capital will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OBDC. Truist Financial lowered their price objective on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Blue Owl Capital in a report on Monday, August 12th. Wells Fargo & Company lowered 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. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods lowered their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.94.

Insider Transactions at Blue Owl Capital

In other news, Director Edward H. Dalelio purchased 2,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average price of $15.02 per share, with a total value of $37,550.00. Following the completion of the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $135,420.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.12% of the company’s stock.

About Blue Owl Capital

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.