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

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. “

Several other equities analysts also recently commented on the stock. Canaccord Genuity reaffirmed a buy rating and set a $9.00 price objective on shares of North American Energy Partners in a research note on Tuesday, May 2nd. National Bank Financial reiterated an outperform rating on shares of North American Energy Partners in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $6.88.

North American Energy Partners (NYSE:NOA) opened at 4.25 on Friday. The stock has a 50 day moving average price of $4.51 and a 200-day moving average price of $4.66. The company has a market capitalization of $117.02 million, a PE ratio of 56.67 and a beta of 0.64. North American Energy Partners has a 52 week low of $2.34 and a 52 week high of $5.70.

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The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Wednesday, May 31st were given a $0.0147 dividend. The ex-dividend date was Friday, May 26th. This represents a $0.06 annualized dividend and a yield of 1.38%. North American Energy Partners’s payout ratio is presently 100.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOA. Tower Research Capital LLC TRC purchased a new stake in shares of North American Energy Partners during the first quarter valued at approximately $104,000. Russell Investments Group Ltd. boosted its position in 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 boosted its position in 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. O Shaughnessy Asset Management LLC boosted its position in North American Energy Partners by 82.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 60,592 shares of the oil and gas company’s stock valued at $300,000 after buying an additional 27,292 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in North American Energy Partners during the first quarter valued at $1,880,000. Institutional investors and hedge funds own 47.71% of the company’s stock.

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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