JPMorgan Chase & Co. Reduces Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

JPMorgan Chase & Co. cut its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 8.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,261,947 shares of the company’s stock after selling 201,405 shares during the quarter. JPMorgan Chase & Co.’s holdings in Blue Owl Capital were worth $32,957,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OBDC. Van ECK Associates Corp raised its position in shares of Blue Owl Capital by 4.9% in the 3rd quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock valued at $112,754,000 after purchasing an additional 347,155 shares during the last quarter. LSV Asset Management increased its stake in Blue Owl Capital by 10.4% during the 2nd quarter. LSV Asset Management now owns 4,492,981 shares of the company’s stock valued at $69,012,000 after purchasing an additional 423,934 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Blue Owl Capital by 4.3% in the third quarter. Stephens Inc. AR now owns 3,219,576 shares of the company’s stock worth $46,909,000 after buying an additional 132,386 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Blue Owl Capital by 4.8% during the third quarter. Sound Income Strategies LLC now owns 2,842,258 shares of the company’s stock worth $41,412,000 after buying an additional 130,181 shares during the period. Finally, Sage Advisors LLC increased its holdings in shares of Blue Owl Capital by 3.7% in the third quarter. Sage Advisors LLC now owns 1,996,927 shares of the company’s stock valued at $29,095,000 after purchasing an additional 71,503 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OBDC. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $14.00 price target (down from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company raised their target price on shares of Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Blue Owl Capital presently has an average rating of “Hold” and a consensus price target of $15.86.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $14.96 on Tuesday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 9.29 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. Blue Owl Capital Co. has a fifty-two week low of $13.98 and a fifty-two week high of $16.91. The company has a 50 day moving average price of $15.13 and a 200 day moving average price of $15.08.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 9.89%. The ex-dividend date is Tuesday, December 31st. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s payout ratio is currently 91.93%.

Blue Owl Capital 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.