Blue Owl Capital (NYSE:OWL) Price Target Raised to $24.00

Blue Owl Capital (NYSE:OWL) had its target price raised by Oppenheimer from $21.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the stock. Evercore ISI increased their target price on shares of Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. UBS Group cut their price objective on Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. TD Cowen restated a “hold” rating and issued a $19.00 target price (down from $21.50) on shares of Blue Owl Capital in a report on Monday, July 8th. JMP Securities upped their target price on Blue Owl Capital from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on Blue Owl Capital from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.15.

Blue Owl Capital Stock Performance

Shares of NYSE OWL opened at $23.85 on Wednesday. Blue Owl Capital has a 1 year low of $12.11 and a 1 year high of $24.17. The firm has a market cap of $34.08 billion, a P/E ratio of 198.75, a PEG ratio of 1.29 and a beta of 1.18. The stock has a fifty day moving average price of $18.72 and a two-hundred day moving average price of $18.40.

Blue Owl Capital (NYSE:OWL) last announced its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. The business had revenue of $549.85 million during the quarter, compared to analysts’ expectations of $507.22 million. During the same quarter last year, the business posted $0.16 earnings per share. On average, research analysts predict that Blue Owl Capital will post 0.79 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Blue Owl Capital’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Affinity Wealth Management LLC boosted its stake in shares of Blue Owl Capital by 5.3% during the 3rd quarter. Affinity Wealth Management LLC now owns 13,347 shares of the company’s stock valued at $258,000 after buying an additional 675 shares during the period. Raymond James Trust N.A. boosted its position in Blue Owl Capital by 6.7% during the second quarter. Raymond James Trust N.A. now owns 11,217 shares of the company’s stock valued at $199,000 after purchasing an additional 708 shares during the last quarter. Capital Insight Partners LLC grew its stake in Blue Owl Capital by 2.6% in the second quarter. Capital Insight Partners LLC now owns 32,637 shares of the company’s stock valued at $579,000 after purchasing an additional 815 shares in the last quarter. Great Diamond Partners LLC increased its position in Blue Owl Capital by 2.5% in the 2nd quarter. Great Diamond Partners LLC now owns 42,626 shares of the company’s stock worth $757,000 after purchasing an additional 1,030 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Blue Owl Capital by 4.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,998 shares of the company’s stock worth $479,000 after purchasing an additional 1,103 shares in the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Company Profile

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.