Blue Owl Capital Co. (NYSE:OBDC) Increases Dividend to $0.06 Per Share

Blue Owl Capital Co. (NYSE:OBDC) declared a dividend on Wednesday, August 7th, NASDAQ reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.06 per share on Friday, September 13th. The ex-dividend date is Friday, August 30th. This is a positive change from Blue Owl Capital’s previous dividend of $0.05.

Blue Owl Capital has raised its dividend by an average of 2.6% per year over the last three years. Blue Owl Capital has a dividend payout ratio of 83.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Blue Owl Capital to earn $1.77 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 83.6%.

Blue Owl Capital Price Performance

NYSE:OBDC traded down $0.09 during trading hours on Thursday, reaching $14.59. 4,115,900 shares of the company were exchanged, compared to its average volume of 2,032,956. The stock’s 50-day moving average is $15.67 and its 200-day moving average is $15.55. Blue Owl Capital has a twelve month low of $12.99 and a twelve month high of $16.91. The firm has a market cap of $5.69 billion, a PE ratio of 7.41 and a beta of 0.87. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.14.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $399.58 million for the quarter, compared to analysts’ expectations of $399.16 million. Blue Owl Capital had a return on equity of 12.64% and a net margin of 48.25%. On average, sell-side analysts anticipate that Blue Owl Capital will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OBDC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued 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 objective 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. Truist Financial lifted their target price on Blue Owl Capital from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Hovde Group increased their price target on 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, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.19.

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.