Oaktree Specialty Lending (NASDAQ:OCSL) Stock Rating Lowered by Oppenheimer

Oppenheimer cut shares of Oaktree Specialty Lending (NASDAQ:OCSL) from an outperform rating to a market perform rating in a research report report published on Friday, Marketbeat Ratings reports. Oppenheimer currently has $18.00 price target on the credit services provider’s stock, down from their prior price target of $20.00.

OCSL has been the topic of several other reports. Wells Fargo & Company dropped their price target on Oaktree Specialty Lending from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Friday, July 26th. JMP Securities dropped their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set a market outperform rating on the stock in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $20.00 to $18.50 and set an overweight rating on the stock in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $18.42.

Oaktree Specialty Lending Price Performance

NASDAQ:OCSL opened at $15.72 on Friday. The business’s 50-day moving average price is $18.66 and its 200 day moving average price is $19.35. The firm has a market cap of $1.28 billion, a P/E ratio of 11.73 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 quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.59.

Oaktree Specialty Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.55 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.20 annualized dividend and a dividend yield of 13.99%. Oaktree Specialty Lending’s payout ratio is presently 164.18%.

Institutional Investors Weigh In On Oaktree Specialty Lending

Several large investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. purchased a new position in Oaktree Specialty Lending in the 4th quarter worth approximately $39,000. Security National Bank bought a new stake in Oaktree Specialty Lending in the 2nd quarter worth approximately $42,000. Bfsg LLC bought a new stake in Oaktree Specialty Lending in the 4th quarter worth approximately $71,000. Newbridge Financial Services Group Inc. bought a new stake in Oaktree Specialty Lending in the 1st quarter worth approximately $142,000. Finally, Financial Strategies Group Inc. bought a new stake in Oaktree Specialty Lending in the 1st quarter worth approximately $197,000. 36.79% of the stock is currently owned by institutional investors.

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.