North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $5.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.89% from the stock’s previous close.

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 (NYSE NOA) traded up $0.25 during trading on Friday, reaching $4.55. 37,199 shares of the company traded hands, compared to its average volume of 27,888. The company has a current ratio of 0.97, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. The stock has a market cap of $132.87 million, a price-to-earnings ratio of 151.67 and a beta of 0.64.

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A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in 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 buying an additional 3,311 shares during the period. Intact Investment Management Inc. increased its position in shares of North American Energy Partners by 2.9% in the second quarter. Intact Investment Management Inc. now owns 419,300 shares of the oil and gas company’s stock worth $2,344,000 after purchasing an additional 11,700 shares during the period. Russell Investments Group Ltd. increased its position 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 worth $177,000 after purchasing an additional 21,101 shares during the period. JPMorgan Chase & Co. bought a new position in shares of North American Energy Partners in the second quarter worth $150,000. Finally, AJO LP increased its position in shares of North American Energy Partners by 118.6% in the second quarter. AJO LP now owns 300,214 shares of the oil and gas company’s stock worth $1,321,000 after purchasing an additional 162,891 shares during the period. Hedge funds and other institutional investors own 39.42% of the company’s stock.

About North American Energy Partners

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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