Oracle (NYSE:ORCL) Trading Up 2.5% - Here's What Happened

Oracle Co. (NYSE:ORCL - Get Free Report)'s share price was up 2.5% during mid-day trading on Thursday . The company traded as high as $170.16 and last traded at $169.61. Approximately 2,396,465 shares were traded during trading, a decline of 71% from the average daily volume of 8,384,246 shares. The stock had previously closed at $165.41.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ORCL. Jefferies Financial Group raised their price target on shares of Oracle from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $165.00 target price on shares of Oracle in a research note on Thursday, December 5th. Barclays lifted their price target on Oracle from $160.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Melius raised Oracle from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Monday, September 16th. Finally, Morgan Stanley lifted their target price on Oracle from $145.00 to $175.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 10th. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $183.63.

Oracle Stock Performance

The company has a market capitalization of $472.10 billion, a price-to-earnings ratio of 41.27, a price-to-earnings-growth ratio of 3.39 and a beta of 1.03. The firm has a fifty day simple moving average of $179.95 and a 200 day simple moving average of $157.05. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.72.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.01). The business had revenue of $14.06 billion for the quarter, compared to analysts' expectations of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $1.34 EPS. On average, analysts anticipate that Oracle Co. will post 5.03 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Oracle's dividend payout ratio is currently 39.12%.

Hedge Funds Weigh In On Oracle

Hedge funds have recently made changes to their positions in the company. Activest Wealth Management grew its position in shares of Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider's stock valued at $53,000 after purchasing an additional 56 shares during the period. Second Line Capital LLC grew its holdings in Oracle by 1.5% in the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider's stock valued at $650,000 after buying an additional 58 shares during the period. Cadence Bank increased its stake in shares of Oracle by 0.8% during the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider's stock valued at $1,296,000 after acquiring an additional 59 shares during the last quarter. Eagle Rock Investment Company LLC lifted its holdings in shares of Oracle by 0.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider's stock worth $3,003,000 after acquiring an additional 64 shares during the period. Finally, W Advisors LLC boosted its position in shares of Oracle by 3.1% in the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider's stock worth $368,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.