Oaktree Capital Management LP Has Cut Its United States Steel (Put) (X) Holding; Dover (DOV) Shorts Raised By 66.84%

June 19, 2017 - By Louis Casey

Dover Corporation (NYSE:DOV) had an increase of 66.84% in short interest. DOV’s SI was 3.79 million shares in June as released by FINRA. Its up 66.84% from 2.27M shares previously. With 1.46M avg volume, 3 days are for Dover Corporation (NYSE:DOV)’s short sellers to cover DOV’s short positions. The SI to Dover Corporation’s float is 2.47%. About 321,607 shares traded. Dover Corp (NYSE:DOV) has risen 29.68% since June 19, 2016 and is uptrending. It has outperformed by 12.98% the S&P500.

Oaktree Capital Management Lp decreased United States Steel Corp (Put) (X) stake by 64.38% reported in 2016Q4 SEC filing. Oaktree Capital Management Lp sold 253,000 shares as United States Steel Corp (Put) (X)’s stock declined 50.78%. The Oaktree Capital Management Lp holds 140,000 shares with $4.62 million value, down from 393,000 last quarter. United States Steel Corp (Put) now has $3.57 billion valuation. The stock rose 2.58% or $0.52 reaching $20.68. About 15.16 million shares traded. United States Steel Corporation (NYSE:X) has risen 45.54% since June 19, 2016 and is uptrending. It has outperformed by 28.84% the S&P500.

Analysts await United States Steel Corporation (NYSE:X) to report earnings on July, 25. They expect $0.57 EPS, up 283.87% or $0.88 from last year’s $-0.31 per share. X’s profit will be $98.40 million for 9.07 P/E if the $0.57 EPS becomes a reality. After $-0.83 actual EPS reported by United States Steel Corporation for the previous quarter, Wall Street now forecasts -168.67% EPS growth.

Among 22 analysts covering United States Steel Corporation (NYSE:X), 7 have Buy rating, 2 Sell and 13 Hold. Therefore 32% are positive. United States Steel Corporation had 62 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was downgraded by Rosenblatt to “Neutral” on Monday, November 21. The firm has “Outperform” rating by Credit Suisse given on Wednesday, June 8. The stock has “Equal Weight” rating by Barclays Capital on Monday, February 6. The firm earned “Neutral” rating on Monday, February 22 by Rosenblatt. The rating was downgraded by Cowen & Co to “Market Perform” on Wednesday, May 10. The company was upgraded on Thursday, November 3 by Bank of America. The rating was upgraded by Bank of America on Wednesday, June 15 to “Neutral”. The rating was maintained by Jefferies on Wednesday, September 16 with “Hold”. As per Monday, January 9, the company rating was downgraded by Rosenblatt. Northland Capital maintained United States Steel Corporation (NYSE:X) rating on Wednesday, March 9. Northland Capital has “Neutral” rating and $11 target.

Oaktree Capital Management Lp increased Jefferies Group Llc (Prn) stake by 1.75M shares to 10.75M valued at $10.89M in 2016Q4. It also upped Anglogold Ashanti (NYSE:AU) stake by 684,301 shares and now owns 2.21M shares. Blackrock Capital Investment Corp (Prn) was raised too.

Among 21 analysts covering Dover (NYSE:DOV), 12 have Buy rating, 0 Sell and 9 Hold. Therefore 57% are positive. Dover had 54 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Monday, August 31 by Bernstein. The company was downgraded on Friday, January 15 by Bernstein. As per Thursday, January 21, the company rating was initiated by Citigroup. The rating was maintained by Stifel Nicolaus on Friday, April 21 with “Hold”. The company was upgraded on Friday, January 6 by UBS. The stock has “Perform” rating by Oppenheimer on Friday, December 4. The stock has “Sell” rating by Vertical Research on Wednesday, August 26. The stock of Dover Corp (NYSE:DOV) earned “Neutral” rating by Goldman Sachs on Tuesday, January 12. The company was maintained on Tuesday, November 3 by RBC Capital Markets. Barclays Capital maintained Dover Corp (NYSE:DOV) rating on Thursday, March 17. Barclays Capital has “Equal-Weight” rating and $56 target.

Since February 22, 2017, it had 0 insider buys, and 5 insider sales for $7.58 million activity. 15,638 shares were sold by Fincher C. Anderson, worth $1.25M. Arkell Sandra A also sold $147,895 worth of Dover Corp (NYSE:DOV) shares. 40,000 shares were sold by STUBBS MICHAEL B, worth $3.33 million.

Dover Corporation is a diversified global maker delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The company has market cap of $12.97 billion. The Company’s divisions include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. It has a 22.32 P/E ratio. The Company’s Energy segment is a well-known provider of solutions and services for production and processing of fuels around the world.

Investors sentiment increased to 0.96 in 2016 Q4. Its up 0.03, from 0.93 in 2016Q3. It increased, as 50 investors sold Dover Corp shares while 193 reduced holdings. 70 funds opened positions while 163 raised stakes. 130.37 million shares or 0.60% more from 129.60 million shares in 2016Q3 were reported. Schwab Charles Invest Mgmt Inc invested in 0.04% or 523,362 shares. Fulton Retail Bank Na invested 0.04% of its portfolio in Dover Corp (NYSE:DOV). Bnp Paribas Arbitrage Sa reported 21,379 shares. 5,730 are owned by Geneva Advisors Ltd Liability Corp. Umb Bancorporation N A Mo owns 12,509 shares for 0.03% of their portfolio. Commerzbank Aktiengesellschaft Fi owns 4,937 shares. Lowe Brockenbrough Company holds 0.48% in Dover Corp (NYSE:DOV) or 38,440 shares. 38,372 are owned by Arizona State Retirement. Airain Ltd holds 6,147 shares or 0.04% of its portfolio. Arrowgrass Partners Llp has 275,000 shares. Gabelli Funds Lc has 0.01% invested in Dover Corp (NYSE:DOV) for 17,000 shares. Proshare Lc stated it has 0.63% in Dover Corp (NYSE:DOV). Grandfield And Dodd Limited Liability owns 39,175 shares for 0.38% of their portfolio. Pacad Inv Limited invested in 0.04% or 4,300 shares. Renaissance Investment Gp Ltd Co holds 5,340 shares or 0.19% of its portfolio.

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