796,223 Shares in Blue Owl Capital Co. (NYSE:OBDC) Acquired by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC bought a new stake in Blue Owl Capital Co. (NYSE:OBDC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 796,223 shares of the company’s stock, valued at approximately $11,752,000. Blue Owl Capital makes up approximately 3.2% of Pettinga Financial Advisors LLC’s investment portfolio, making the stock its 7th largest holding.

Several other large investors have also modified their holdings of OBDC. Sound Income Strategies LLC acquired a new stake in Blue Owl Capital during the 4th quarter worth $36,311,000. Border to Coast Pensions Partnership Ltd acquired a new stake in Blue Owl Capital during the 4th quarter worth $30,477,000. Raymond James & Associates acquired a new stake in Blue Owl Capital during the 4th quarter worth $12,765,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Blue Owl Capital during the 4th quarter worth $9,894,000. Finally, Tectonic Advisors LLC acquired a new stake in Blue Owl Capital during the 4th quarter worth $5,417,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Blue Owl Capital Stock Performance

Shares of OBDC stock traded down $0.26 during mid-day trading on Wednesday, hitting $15.27. The stock had a trading volume of 2,189,211 shares, compared to its average volume of 1,976,940. Blue Owl Capital Co. has a fifty-two week low of $12.20 and a fifty-two week high of $15.55. The firm has a market cap of $5.95 billion, a PE ratio of 7.51 and a beta of 0.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50-day simple moving average is $15.04 and its 200-day simple moving average is $14.53.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $411.23 million during the quarter, compared to the consensus estimate of $397.42 million. Blue Owl Capital had a net margin of 50.14% and a return on equity of 12.62%. Sell-side analysts anticipate that Blue Owl Capital Co. will post 1.89 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.10%. Blue Owl Capital’s dividend payout ratio is presently 68.97%.

Insider Activity

In other Blue Owl Capital news, Director Edward H. Dalelio bought 3,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was purchased at an average cost of $15.07 per share, for a total transaction of $45,210.00. Following the acquisition, the director now owns 6,217 shares of the company’s stock, valued at approximately $93,690.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OBDC shares. JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of Blue Owl Capital in a research note on Tuesday. B. Riley cut shares of Blue Owl Capital from a “buy” rating to a “neutral” rating and set a $15.50 price target for the company. in a research note on Monday, January 8th. Finally, Wells Fargo & Company raised their target price on shares of Blue Owl Capital from $13.00 to $14.50 and gave the stock an “underweight” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Hold” and an average target price of $15.50.

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.