JPMorgan Chase & Co. Reaffirms Neutral Rating for Oaktree Specialty Lending (NASDAQ:OCSL)

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Oaktree Specialty Lending (NASDAQ:OCSL) in a report released on Wednesday, MarketBeat.com reports. They currently have a $15.00 price objective on the credit services provider’s stock, down from their previous price objective of $17.00.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised shares of Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. B. Riley decreased their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JMP Securities downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. StockNews.com cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Oppenheimer lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Stock Performance

Shares of OCSL stock opened at $15.85 on Wednesday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 22.01 and a beta of 1.09. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $16.15 and its 200-day moving average price is $17.44. Oaktree Specialty Lending has a 12 month low of $15.40 and a 12 month high of $21.64.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.20 annualized dividend and a yield of 13.88%. Oaktree Specialty Lending’s dividend payout ratio is currently 305.56%.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several institutional investors have recently added to or reduced their stakes in the business. PFS Partners LLC increased its stake in shares of Oaktree Specialty Lending by 601.4% in the 3rd quarter. PFS Partners LLC now owns 1,936 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 1,660 shares in the last quarter. Security National Bank bought a new stake in Oaktree Specialty Lending in the second quarter valued at $42,000. Brown Brothers Harriman & Co. acquired a new position in shares of Oaktree Specialty Lending during the second quarter valued at about $56,000. Sunbelt Securities Inc. boosted its position in shares of Oaktree Specialty Lending by 37.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,735 shares of the credit services provider’s stock worth $127,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Bfsg LLC grew its stake in shares of 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 buying an additional 5,576 shares during the period. 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.