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Oaktree Capital Group (NYSE:OAK) was upgraded by investment analysts at Bank of America to a “buy” rating in a note issued to investors on Tuesday.

Shares of Oaktree Capital Group (NYSE:OAK) traded up 3.09% on Tuesday, hitting $50.06. The stock had a trading volume of 113,724 shares. Oaktree Capital Group has a one year low of $47.36 and a one year high of $62.30. The stock has a 50-day moving average of $49.64 and a 200-day moving average of $53.66. The company has a market cap of $2.177 billion and a P/E ratio of 10.17.

Oaktree Capital Group (NYSE:OAK) last announced its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $302.52 million for the quarter, compared to the consensus estimate of $282.44 million. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, analysts predict that Oaktree Capital Group will post $3.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Monday, August 11th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Thursday, August 7th.

A number of other analysts have also recently weighed in on OAK. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Oaktree Capital Group in a research note on Friday, August 1st. They now have a $60.00 price target on the stock. Separately, analysts at Sandler O’Neill cut their price target on shares of Oaktree Capital Group from $64.00 to $58.00 in a research note on Wednesday, July 16th. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Oaktree Capital Group from $64.00 to $63.00 in a research note on Tuesday, July 15th. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $59.20.

Oaktree Capital Group, LLC (NYSE:OAK) is a global investment management firm focused on alternative markets.

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