Oaktree Specialty Lending (NASDAQ:OCSL) PT Lowered to $15.50 at Wells Fargo & Company

Oaktree Specialty Lending (NASDAQ:OCSL) had its price target lowered by Wells Fargo & Company from $17.00 to $15.50 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the credit services provider’s stock.

Several other analysts have also weighed in on OCSL. Keefe, Bruyette & Woods raised Oaktree Specialty Lending to a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a research note on Monday, July 29th. JMP Securities reduced their price objective on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Oppenheimer lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $20.00 to $18.00 in a research note on Friday, August 2nd. Finally, StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Oaktree Specialty Lending Stock Performance

OCSL opened at $16.20 on Tuesday. The firm has a market cap of $1.33 billion, a P/E ratio of 18.62 and a beta of 1.09. Oaktree Specialty Lending has a 52-week low of $15.56 and a 52-week high of $21.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. The business’s fifty day moving average is $16.47 and its 200-day moving average is $17.87.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Thursday, August 1st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $94.97 million for the quarter, compared to analyst estimates of $99.35 million. Oaktree Specialty Lending had a return on equity of 12.03% and a net margin of 17.21%. Sell-side analysts expect that Oaktree Specialty Lending will post 2.24 EPS for the current fiscal year.

Oaktree Specialty Lending Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.58%. The ex-dividend date of this dividend was Monday, September 16th. Oaktree Specialty Lending’s payout ratio is 252.87%.

Institutional Trading of Oaktree Specialty Lending

Hedge funds have recently made changes to their positions in the company. Security National Bank acquired a new stake in shares of Oaktree Specialty Lending during the second quarter valued at about $42,000. Brown Brothers Harriman & Co. bought a new position in shares of Oaktree Specialty Lending during the second quarter worth about $56,000. Sunbelt Securities Inc. raised its position in shares of Oaktree Specialty Lending by 37.0% during the second quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after acquiring an additional 1,820 shares during the last quarter. Bfsg LLC raised its position in shares of Oaktree Specialty Lending by 208.1% during the third quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock worth $135,000 after acquiring an additional 5,576 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Oaktree Specialty Lending during the first quarter worth about $210,000. 36.79% of the stock is owned by institutional investors and hedge funds.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.