Wells Fargo & Company Cuts Oaktree Specialty Lending (NASDAQ:OCSL) Price Target to $12.00

Oaktree Specialty Lending (NASDAQ:OCSL) had its price target trimmed by Wells Fargo & Company from $13.00 to $12.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has an equal weight rating on the credit services provider’s stock.

Other equities research analysts have also issued research reports about the company. Zacks Research upgraded Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Finally, Lucid Cap Mkts upgraded Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.75.

Oaktree Specialty Lending Trading Up 0.1%

Shares of NASDAQ OCSL opened at $12.14 on Thursday. The firm has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $13.32. The stock has a market cap of $1.07 billion, a P/E ratio of 33.72 and a beta of 0.52. Oaktree Specialty Lending has a 52-week low of $11.94 and a 52-week high of $16.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.20 and a current ratio of 0.16.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Wednesday, February 4th. The credit services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $74.48 million for the quarter, compared to analysts’ expectations of $75.72 million. Oaktree Specialty Lending had a net margin of 10.58% and a return on equity of 9.75%. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts forecast that Oaktree Specialty Lending will post 2.06 EPS for the current year.

Oaktree Specialty Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.60 annualized dividend and a yield of 13.2%. Oaktree Specialty Lending’s payout ratio is 444.44%.

Institutional Trading of Oaktree Specialty Lending

Several large investors have recently modified their holdings of OCSL. Royal Bank of Canada boosted its stake in Oaktree Specialty Lending by 34.3% during the first quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider’s stock worth $7,201,000 after acquiring an additional 119,775 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Oaktree Specialty Lending by 23.0% during the second quarter. Atria Wealth Solutions Inc. now owns 23,186 shares of the credit services provider’s stock valued at $317,000 after purchasing an additional 4,331 shares during the period. Naviter Wealth LLC raised its holdings in shares of Oaktree Specialty Lending by 12.7% during the second quarter. Naviter Wealth LLC now owns 175,837 shares of the credit services provider’s stock valued at $2,402,000 after purchasing an additional 19,790 shares during the period. Melia Wealth LLC boosted its position in shares of Oaktree Specialty Lending by 12.6% during the 2nd quarter. Melia Wealth LLC now owns 990,458 shares of the credit services provider’s stock worth $13,530,000 after purchasing an additional 110,938 shares in the last quarter. Finally, Generali Asset Management SPA SGR grew its stake in shares of Oaktree Specialty Lending by 74.2% in the 2nd quarter. Generali Asset Management SPA SGR now owns 1,888,566 shares of the credit services provider’s stock valued at $25,798,000 after buying an additional 804,422 shares during the period. Institutional investors and hedge funds own 36.79% of the company’s stock.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.