Zacks Investment Research lowered shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “NORTH AMERICAN ENERGY PARTNERS INC. is one of the largest providers of heavy construction, mining, piling and pipeline services in Western Canada. For more than fifty years, NAEP has provided services to large oil, natural gas and resource companies, with a principal focus on the Canadian oil sands. The Company maintains one of the largest independently owned equipment fleets in the region. “

Shares of North American Energy Partners (NOA) traded up 1.19% during midday trading on Wednesday, reaching $4.25. The company’s stock had a trading volume of 23,283 shares. North American Energy Partners has a 52 week low of $2.34 and a 52 week high of $5.70. The company has a 50 day moving average of $4.04 and a 200-day moving average of $4.48. The stock has a market capitalization of $114.14 million, a price-to-earnings ratio of 108.97 and a beta of 0.67.

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The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, August 31st will be given a $0.016 dividend. The ex-dividend date is Tuesday, August 29th. This is a boost from North American Energy Partners’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a yield of 1.52%. North American Energy Partners’s payout ratio is 600.00%.

Several large investors have recently made changes to their positions in NOA. Tower Research Capital LLC TRC purchased a new stake in shares of North American Energy Partners in the first quarter valued at about $104,000. JPMorgan Chase & Co. purchased a new stake in shares of North American Energy Partners in the second quarter valued at about $150,000. Russell Investments Group Ltd. raised its holdings in shares of North American Energy Partners by 144.7% in the first quarter. Russell Investments Group Ltd. now owns 35,687 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 21,101 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of North American Energy Partners by 42.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,048 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 11,717 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of North American Energy Partners by 5.9% in the second quarter. Royal Bank of Canada now owns 59,904 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 3,311 shares during the last quarter. 39.52% of the stock is owned by institutional investors and hedge funds.

North American Energy Partners Company Profile

North American Energy Partners Inc provides a range of mining and heavy construction services to customers in the resource development and industrial construction sectors within Western Canada. The Company’s operating divisions include Heavy Construction and Mining; Industrial, and Tailings & Environmental Construction.

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