Blue Owl Capital (NYSE:OWL) Sets New 12-Month High on Analyst Upgrade

Blue Owl Capital Inc. (NYSE:OWL) hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $18.50 to $21.00. Wells Fargo & Company currently has an equal weight rating on the stock. Blue Owl Capital traded as high as $21.21 and last traded at $21.21, with a volume of 167 shares traded. The stock had previously closed at $20.70.

OWL has been the topic of a number of other reports. Oppenheimer raised Blue Owl Capital from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, August 2nd. Evercore ISI lifted their price target on shares of Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group reduced their price objective on shares of Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler boosted their target price on shares of Blue Owl Capital from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JMP Securities increased their price target on shares of Blue Owl Capital from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.90.

Institutional Trading of Blue Owl Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors grew its stake in Blue Owl Capital by 0.3% during the 1st quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock worth $1,194,576,000 after buying an additional 163,377 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Blue Owl Capital by 0.6% during the first quarter. Vanguard Group Inc. now owns 40,731,640 shares of the company’s stock worth $768,199,000 after acquiring an additional 250,977 shares during the last quarter. Capital International Investors increased its holdings in shares of Blue Owl Capital by 0.3% in the 1st quarter. Capital International Investors now owns 33,284,962 shares of the company’s stock worth $627,754,000 after acquiring an additional 107,321 shares during the period. Capital Research Global Investors lifted its position in Blue Owl Capital by 11.9% in the 1st quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock valued at $198,268,000 after purchasing an additional 1,121,064 shares during the last quarter. Finally, Stone Point Capital LLC acquired a new position in Blue Owl Capital during the 2nd quarter valued at about $112,749,000. 35.85% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

The business’s 50 day simple moving average is $18.01 and its 200-day simple moving average is $18.25. The stock has a market capitalization of $29.94 billion, a price-to-earnings ratio of 174.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, August 1st. The company reported $0.19 EPS 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 firm had revenue of $549.85 million for the quarter, compared to analysts’ expectations of $507.22 million. During the same period last year, the firm earned $0.16 EPS. As a group, sell-side analysts expect that Blue Owl Capital Inc. will post 0.79 EPS for the current year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.44%. Blue Owl Capital’s dividend payout ratio (DPR) is 600.00%.

About Blue Owl Capital

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.