Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Lowered to $17.00 at Keefe, Bruyette & Woods

Oaktree Specialty Lending (NASDAQ:OCSL) had its price objective lowered by Keefe, Bruyette & Woods from $18.00 to $17.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the credit services provider’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Oppenheimer downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $20.00 to $18.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $15.00 target price (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday. B. Riley decreased their price target on shares of Oaktree Specialty Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, JMP Securities cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.75.

Oaktree Specialty Lending Stock Up 0.4 %

Shares of NASDAQ OCSL opened at $15.68 on Wednesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.61. Oaktree Specialty Lending has a 12-month low of $15.40 and a 12-month high of $21.64. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 18.02 and a beta of 1.09. The firm’s 50-day moving average price is $16.18 and its 200-day moving average price is $17.49.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 14.03%. Oaktree Specialty Lending’s payout ratio is 252.87%.

Hedge Funds Weigh In On Oaktree Specialty Lending

A number of institutional investors have recently modified their holdings of OCSL. PFS Partners LLC grew its stake in shares of Oaktree Specialty Lending by 601.4% during the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,660 shares during the period. Security National Bank purchased a new position in Oaktree Specialty Lending in the 2nd quarter valued at about $42,000. Brown Brothers Harriman & Co. purchased a new position in Oaktree Specialty Lending in the 2nd quarter valued at about $56,000. Sunbelt Securities Inc. lifted its holdings in Oaktree Specialty Lending by 37.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock valued at $127,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in Oaktree Specialty Lending by 208.1% in the 3rd quarter. Bfsg LLC now owns 8,255 shares of the credit services provider’s stock valued at $135,000 after purchasing an additional 5,576 shares in the last quarter. 36.79% of the stock is owned by institutional investors and hedge funds.

About Oaktree Specialty Lending

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.