Blue Owl Capital (NYSE:OWL) Trading 4.8% Higher Following Analyst Upgrade

Blue Owl Capital Inc. (NYSE:OWL)’s share price shot up 4.8% during trading on Thursday after Oppenheimer raised their price target on the stock from $21.00 to $24.00. Oppenheimer currently has an outperform rating on the stock. Blue Owl Capital traded as high as $23.44 and last traded at $23.42. 4,778,356 shares traded hands during trading, a decline of 8% from the average session volume of 5,217,689 shares. The stock had previously closed at $22.35.

OWL has been the topic of a number of other research reports. Piper Sandler lifted their target price on Blue Owl Capital from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen restated a “hold” rating and issued a $19.00 target price (down previously from $21.50) on shares of Blue Owl Capital in a research report on Monday, July 8th. UBS Group reduced their target price on Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI lifted their target price on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, JMP Securities lifted their target price on Blue Owl Capital from $24.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $21.15.

Institutional Investors Weigh In On Blue Owl Capital

Several institutional investors and hedge funds have recently modified their holdings of OWL. Transcendent Capital Group LLC acquired a new position in Blue Owl Capital during the 1st quarter worth $26,000. ORG Partners LLC acquired a new position in Blue Owl Capital during the 2nd quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in Blue Owl Capital during the 3rd quarter worth $32,000. Family Firm Inc. acquired a new position in Blue Owl Capital during the 2nd quarter worth $40,000. Finally, Rothschild Investment LLC acquired a new position in Blue Owl Capital during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Performance

The stock has a market capitalization of $33.51 billion, a price-to-earnings ratio of 195.42, a PEG ratio of 1.29 and a beta of 1.18. The company has a 50 day moving average of $18.59 and a 200 day moving average of $18.36.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $549.85 million during the quarter, compared to analysts’ expectations of $507.22 million. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. During the same period in the prior year, the firm posted $0.16 EPS. As a group, research analysts expect that Blue Owl Capital Inc. will post 0.79 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 annualized dividend and a dividend yield of 3.07%. Blue Owl Capital’s dividend payout ratio is currently 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.