North American Energy Partners Inc.(USA) (NOA) Downgraded by Zacks Investment Research to “Hold”

North American Energy Partners Inc.(USA) (NYSE:NOA) (TSE:NOA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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 Inc (NYSE:NOA) traded up $0.10 during midday trading on Wednesday, reaching $5.05. 24,500 shares of the company were exchanged, compared to its average volume of 22,350. The company has a market cap of $126.16, a price-to-earnings ratio of 168.33 and a beta of 0.69. North American Energy Partners Inc has a 1-year low of $3.70 and a 1-year high of $5.70. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.64.

In other North American Energy Partners Inc.(USA) news, major shareholder Cannell Capital Llc acquired 26,301 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average price of $4.26 per share, for a total transaction of $112,042.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of NOA. AJO LP raised its holdings in North American Energy Partners Inc.(USA) by 118.6% in the 2nd quarter. AJO LP now owns 300,214 shares of the oil and gas company’s stock valued at $1,321,000 after buying an additional 162,891 shares during the last quarter. Intact Investment Management Inc. raised its holdings in North American Energy Partners Inc.(USA) by 22.7% in the 3rd quarter. Intact Investment Management Inc. now owns 514,567 shares of the oil and gas company’s stock valued at $2,727,000 after buying an additional 95,267 shares during the last quarter. JPMorgan Chase & Co. bought a new position in North American Energy Partners Inc.(USA) in the 2nd quarter valued at approximately $150,000. Boothbay Fund Management LLC raised its holdings in North American Energy Partners Inc.(USA) by 63.7% in the 3rd quarter. Boothbay Fund Management LLC now owns 61,780 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 24,043 shares during the last quarter. Finally, Signia Capital Management LLC raised its holdings in North American Energy Partners Inc.(USA) by 3.4% in the 3rd quarter. Signia Capital Management LLC now owns 611,010 shares of the oil and gas company’s stock valued at $2,657,000 after buying an additional 19,948 shares during the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.

TRADEMARK VIOLATION WARNING: “North American Energy Partners Inc.(USA) (NOA) Downgraded by Zacks Investment Research to “Hold”” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/03/north-american-energy-partners-inc-usa-noa-downgraded-by-zacks-investment-research-to-hold.html.

About North American Energy Partners Inc.(USA)

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.

Get a free copy of the Zacks research report on North American Energy Partners Inc.(USA) (NOA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for North American Energy Partners Inc.(USA) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for North American Energy Partners Inc.(USA) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply