Zacks Investment Research Upgrades North American Energy Partners Inc. (NOA) to “Hold”
North American Energy Partners Inc. (NYSE:NOA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors 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. “
Separately, TheStreet lowered North American Energy Partners from a “hold” rating to a “sell” rating in a report on Monday, August 22nd.
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Shares of North American Energy Partners (NYSE:NOA) traded up 1.43% during trading on Wednesday, hitting $2.83. The stock had a trading volume of 122,769 shares. The stock has a 50 day moving average of $2.55 and a 200 day moving average of $2.53. The company’s market cap is $83.49 million. North American Energy Partners has a 12 month low of $1.39 and a 12 month high of $3.10.
The business also recently announced a dividend, which was paid on Friday, October 7th. Investors of record on Wednesday, August 31st were given a dividend of $0.015 per share. The ex-dividend date was Monday, August 29th. This is an increase from North American Energy Partners’s previous dividend of $0.01. North American Energy Partners’s payout ratio is -150.00%.
A number of institutional investors have recently added to or reduced their stakes in NOA. Royal Bank of Canada increased its position in North American Energy Partners by 1.5% in the first quarter. Royal Bank of Canada now owns 55,900 shares of the company’s stock valued at $114,000 after buying an additional 850 shares during the period. Bridgeway Capital Management Inc. bought a new position in North American Energy Partners during the second quarter valued at $166,000. Lorber David A bought a new position in North American Energy Partners during the first quarter valued at $179,000. K.J. Harrison & Partners Inc increased its position in North American Energy Partners by 495.0% in the second quarter. K.J. Harrison & Partners Inc now owns 180,300 shares of the company’s stock valued at $502,000 after buying an additional 150,000 shares during the period. Finally, Sprott Inc. bought a new position in North American Energy Partners during the second quarter valued at $564,000. Institutional investors own 50.34% 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. The Company offers its services to customers in the resource development and industrial construction sectors, within Western Canada. The Company provides construction and operations support services through various stages of an oil sands project’s lifecycle.
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