Owl Rock Capital Co. (NYSE:ORCC) plans dividend increase – $0.33 per share

Owl Rock Capital Co. (NYSE: ORCC – Get a rating) declared a quarterly dividend on Friday, November 4 the wall street journal reports. Investors of record on Friday, December 30 will receive a dividend of 0.33 per share from the technology company on Friday, January 13. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 10.31%. The ex-dividend date is Thursday, December 29. This is a positive change from Owl Rock Capital’s previous quarterly dividend of $0.31.

Owl Rock Capital has a dividend payout ratio of 84.4%, indicating that its dividend is currently being covered by earnings, but may not be in the future if company earnings fall. Equity research analysts expect Owl Rock Capital to earn $1.48 per share next year, meaning the company should continue to be able to cover its $1.24 annual dividend. $ with an expected future payout ratio of 83.8%.

Owl Rock capital stock up 1.4%

Shares of ORCC traded at $0.18 during Friday trading hours, reaching $12.80. The stock had a trading volume of 127,614 shares, compared to an average volume of 2,360,978. Owl Rock Capital has a 12-month low of $10.18 and a 12-month high of $15.33. The company has a 50-day simple moving average of $11.75 and a 200-day simple moving average of $12.73. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt ratio of 1.24. The company has a market capitalization of $5.04 billion, a price-earnings ratio of 11.26 and a beta of 0.91.

Owl Capital (NYSE: ORCC – Get a rating) last released its quarterly results on Wednesday, August 3. The technology company reported EPS of $0.32 for the quarter, beating consensus analyst estimates of $0.31 by $0.01. The company posted revenue of $273.29 million in the quarter, versus analyst estimates of $265.59 million. Owl Rock Capital had a return on equity of 8.82% and a net margin of 29.95%. Equity research analysts expect Owl Rock Capital to post 1.33 earnings per share for the current fiscal year.

Insider activity

Separately, Vice President Alexis Maged purchased 29,595 shares of the company in a transaction that took place on Friday, September 9. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $385,030.95. Following the completion of the transaction, the vice president now directly owns 48,435 shares of the company, valued at approximately $630,139.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Insiders hold 0.11% of the company’s shares.

Institutional investors weigh in on Owl Rock Capital

Hedge funds have recently increased or reduced their holdings in the stock. Captrust Financial Advisors bought a new position in shares of Owl Rock Capital during the second quarter at a value of $401,000. Legal & General Group Plc bought a new equity position in Owl Rock Capital during the second quarter worth $2,613,000. Walleye Capital LLC purchased a new stake in Owl Rock Capital during the second quarter at a value of $176,000. Goldman Sachs Group Inc. increased its position in Owl Rock Capital by 302.4% during the second quarter. Goldman Sachs Group Inc. now owns 289,386 shares of the technology company valued at $3,568,000 after acquiring 217,473 additional shares in the last quarter. Finally, First Republic Investment Management Inc. increased its position in Owl Rock Capital by 2.3% during the second quarter. First Republic Investment Management Inc. now owns 1,892,068 shares of the technology company valued at $23,329,000 after acquiring 43,185 additional shares in the last quarter. 43.85% of the shares are held by institutional investors.

Analyst upgrades and downgrades

The ORCC has been the subject of several reports by research analysts. Hovde Group lowered its target price on Owl Rock Capital to $12.50 in a Wednesday, October 5 research report. Wells Fargo & Company raised its price target on Owl Rock Capital from $10.00 to $11.50 and gave the company an “underweight” rating in a research report on Friday. Royal Bank of Canada lowered its price target on Owl Rock Capital from $16.00 to $15.00 and set an “outperform” rating for the company in a Tuesday, August 9 report. Compass Point cut its price target on Owl Rock Capital to $15.50 in a Tuesday, August 9 report. Finally, JMP Securities lowered its price target on Owl Rock Capital from $16.00 to $15.00 and set a “market outperformance” rating for the company in a Monday, August 8 report. One financial analyst gave the stock a sell rating and four gave the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

About Owl Rock Capital

(Get a rating)

Owl Rock Capital Corporation is a business development company. The fund invests in senior secured or unsecured loans, subordinated loans or mezzanine loans and also considers equity-linked securities including warrants and preferred shares, also pursues investments in preferred shares and investments in common stock.

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