Owl Rock Capital Co. (NYSE: ORCC – Get a rating) declared a variable dividend on Wednesday, November 2 Zacks reports. Shareholders of record on Wednesday, November 30 will receive a dividend of 0.03 per share from the technology company on Thursday, December 15. The ex-dividend date is Tuesday, November 29.
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 decrease. Stock analysts expect Owl Rock Capital to earn $1.48 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.24 with a ratio of expected future payout of 83.8%.
Owl Rock Capital trades up 8.5%
Shares of ORCC Stock opened at $12.62 on Friday. The stock has a market capitalization of $4.97 billion, a price-earnings ratio of 11.17 and a beta of 0.91. The stock has a 50-day moving average of $11.75 and a 200-day 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. Owl Rock Capital has a 1-year low of $10.18 and a 1-year high of $15.33.
Owl Capital (NYSE: ORCC – Get a rating) last released its quarterly results on Wednesday, August 3. The technology company reported earnings per share of $0.32 for the quarter, beating the consensus estimate of $0.31 by $0.01. The company posted revenue of $273.29 million in the quarter, compared to $265.59 million expected by analysts. Owl Rock Capital had a return on equity of 8.82% and a net margin of 29.95%. On average, stock research analysts expect Owl Rock Capital to post 1.33 earnings per share for the current year.
Analysts set new price targets
ORCC has been the subject of several recent research reports. Compass Point reduced its price target on Owl Rock Capital to $15.50 in a Tuesday, August 9 research note. Hovde Group reduced its target price on Owl Rock Capital to $12.50 in a Wednesday, October 5 research report. Royal Bank of Canada reduced its target price on Owl Rock Capital from $16.00 to $15.00 and set an “outperform” rating on the stock in a Tuesday, August 9 research report. Wells Fargo & Company cut its price target on Owl Rock Capital from $12.00 to $10.00 and set an “underweight” rating on the stock in a Monday, October 24 research report. Finally, JMP Securities cut its price target on Owl Rock Capital from $16.00 to $15.00 and set a “market outperformance” rating on the stock in a Monday, August 8 research report. One equity research analyst rated the stock with a sell rating and four gave the company a buy rating. According to data from MarketBeat.com, Owl Rock Capital currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.
Insiders place their bets
In a similar vein, Vice President Alexis Maged purchased 29,595 shares of the company in a transaction dated Friday, September 9. The shares were purchased at an average price of $13.01 per share, for a total transaction of $385,030.95. Following the completion of the acquisition, the vice president now directly owns 48,435 shares of the company, valued at $630,139.35. The acquisition was disclosed in an SEC filing, available at this hyperlink. Company insiders hold 0.11% of the company’s shares.
Institutional entries and exits
Large investors have recently changed their stock holdings. Citigroup Inc. bought a new stake in Owl Rock Capital in the first quarter worth $38,000. PNC Financial Services Group Inc. increased its position in Owl Rock Capital shares by 234.3% in the first quarter. PNC Financial Services Group Inc. now owns 46,072 shares of the technology company valued at $680,000 after buying 32,290 additional shares last quarter. Great West Life Assurance Co. Can increased its position in Owl Rock Capital shares by 12.2% in the first quarter. Great West Life Assurance Co. Can now owns 138,527 shares of the technology company valued at $2,177,000 after buying an additional 15,015 shares last quarter. Cetera Investment Advisers increased its position in shares of Owl Rock Capital by 6.1% in the first quarter. Cetera Investment Advisers now owns 31,214 shares of the technology company valued at $461,000 after buying 1,791 additional shares last quarter. Finally, Parkside Financial Bank & Trust bought a new position in shares of Owl Rock Capital in the first quarter worth $42,000. Institutional investors hold 43.85% of the company’s shares.
About Owl Rock Capital
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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