Pettinga Financial Advisors LLC Has $11.07 Million Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

Pettinga Financial Advisors LLC lowered its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 719,998 shares of the company’s stock after selling 76,225 shares during the period. Blue Owl Capital comprises about 2.8% of Pettinga Financial Advisors LLC’s portfolio, making the stock its 9th largest holding. Pettinga Financial Advisors LLC owned 0.18% of Blue Owl Capital worth $11,074,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Heritage Wealth Advisors bought a new position in shares of Blue Owl Capital in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Blue Owl Capital during the 4th quarter worth about $38,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of Blue Owl Capital during the 4th quarter worth about $41,000. Spire Wealth Management acquired a new stake in shares of Blue Owl Capital during the 4th quarter worth about $45,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Blue Owl Capital during the 1st quarter worth about $56,000. Institutional investors own 42.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on OBDC shares. Truist Financial lifted their price objective on shares of Blue Owl Capital from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Hovde Group raised their target price on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Royal Bank of Canada lifted their price target on shares of Blue Owl Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 17th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Blue Owl Capital in a report on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $16.00 price target on shares of Blue Owl Capital in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.19.

Blue Owl Capital Stock Performance

NYSE OBDC opened at $15.34 on Monday. Blue Owl Capital Co. 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. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 7.76 and a beta of 0.88. The company has a fifty day moving average price of $16.17 and a 200-day moving average price of $15.47.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $399.58 million for the quarter, compared to the consensus estimate of $399.16 million. Blue Owl Capital had a net margin of 48.25% and a return on equity of 12.64%. As a group, equities research analysts predict that Blue Owl Capital Co. will post 1.88 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a $0.05 dividend. This represents a dividend yield of 10%. The ex-dividend date of this dividend was Friday, May 31st. Blue Owl Capital’s payout ratio is 74.75%.

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.