Oaktree Specialty Lending (NASDAQ:OCSL) Price Target Lowered to $10.50 at JPMorgan Chase & Co.

Oaktree Specialty Lending (NASDAQ:OCSL) had its price objective lowered by JPMorgan Chase & Co. from $13.50 to $10.50 in a research report report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the credit services provider’s stock.

OCSL has been the subject of a number of other reports. Lucid Cap Mkts upgraded shares of Oaktree Specialty Lending to a “hold” rating in a report on Monday, December 15th. Zacks Research cut shares of Oaktree Specialty Lending from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings downgraded shares of Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 9th. Wells Fargo & Company reduced their price objective on shares of Oaktree Specialty Lending from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $12.88.

Oaktree Specialty Lending Trading Down 1.0%

Shares of NASDAQ:OCSL opened at $11.10 on Friday. The company has a market capitalization of $977.80 million, a PE ratio of 30.83 and a beta of 0.52. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.66. Oaktree Specialty Lending has a 12-month low of $11.08 and a 12-month high of $15.85. The business’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $12.97.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Oaktree Specialty Lending had a return on equity of 9.75% and a net margin of 10.58%.The firm had revenue of $74.48 million during the quarter, compared to analysts’ expectations of $75.72 million. During the same period in the prior year, the business posted $0.54 EPS. As a group, equities research analysts predict that Oaktree Specialty Lending will post 2.06 earnings per share for the current fiscal year.

Oaktree Specialty Lending Dividend Announcement

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 is Monday, March 16th. This represents a $1.60 dividend on an annualized basis and a yield of 14.4%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 444.44%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of large investors have recently modified their holdings of OCSL. Royal Bank of Canada grew its stake in shares of 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 during the last quarter. Allworth Financial LP purchased a new position in shares of Oaktree Specialty Lending in the 2nd quarter valued at approximately $48,000. Creative Planning boosted its stake in Oaktree Specialty Lending by 1.9% in the 2nd quarter. Creative Planning now owns 53,128 shares of the credit services provider’s stock worth $726,000 after purchasing an additional 996 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Oaktree Specialty Lending by 10.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 368,923 shares of the credit services provider’s stock worth $5,039,000 after purchasing an additional 34,476 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 36.79% of the company’s stock.

Oaktree Specialty Lending Company Profile

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.