North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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. “

North American Energy Partners (NOA) remained flat at $4.25 during midday trading on Wednesday. The company had a trading volume of 11,217 shares. The firm’s 50 day moving average price is $4.15 and its 200-day moving average price is $4.41. The stock has a market capitalization of $114.14 million, a price-to-earnings ratio of 103.66 and a beta of 0.62. North American Energy Partners has a 52-week low of $2.75 and a 52-week high of $5.70.

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Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of North American Energy Partners during the 1st quarter worth approximately $104,000. JPMorgan Chase & Co. purchased a new position in shares of North American Energy Partners during the 2nd quarter worth approximately $150,000. Russell Investments Group Ltd. increased its stake in shares of North American Energy Partners by 144.7% during the 1st quarter. Russell Investments Group Ltd. now owns 35,687 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 21,101 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of North American Energy Partners by 42.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,048 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 11,717 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of North American Energy Partners by 5.9% during the 2nd quarter. Royal Bank of Canada now owns 59,904 shares of the oil and gas company’s stock worth $264,000 after purchasing an additional 3,311 shares in 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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