North American Energy Partners Inc.(USA) (NOA) Downgraded to Sell at Zacks Investment Research

North American Energy Partners Inc.(USA) (NYSE:NOA) (TSE:NOA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

A number of other research firms have also weighed in on NOA. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price objective on shares of North American Energy Partners Inc.(USA) in a research note on Tuesday, January 16th. ValuEngine lowered shares of North American Energy Partners Inc.(USA) from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.

North American Energy Partners Inc (NOA) opened at $4.55 on Thursday. North American Energy Partners Inc has a one year low of $3.70 and a one year high of $5.70. The firm has a market cap of $117.24, a P/E ratio of 41.82 and a beta of 0.57. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.64.

In other news, major shareholder Cannell Capital Llc purchased 26,301 shares of North American Energy Partners Inc.(USA) stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $4.26 per share, for a total transaction of $112,042.26. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in shares of North American Energy Partners Inc.(USA) by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 979,800 shares of the oil and gas company’s stock valued at $4,850,000 after purchasing an additional 23,200 shares in the last quarter. Signia Capital Management LLC grew its position in shares of North American Energy Partners Inc.(USA) by 7.8% during the 4th quarter. Signia Capital Management LLC now owns 658,542 shares of the oil and gas company’s stock valued at $3,260,000 after purchasing an additional 47,532 shares in the last quarter. Intact Investment Management Inc. grew its position in shares of North American Energy Partners Inc.(USA) by 22.7% during 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 purchasing an additional 95,267 shares in the last quarter. Royce & Associates LP grew its position in shares of North American Energy Partners Inc.(USA) by 201.4% during the 4th quarter. Royce & Associates LP now owns 150,698 shares of the oil and gas company’s stock valued at $746,000 after purchasing an additional 100,698 shares in the last quarter. Finally, B. Riley Financial Inc. purchased a new position in shares of North American Energy Partners Inc.(USA) during the 4th quarter valued at $466,000. Hedge funds and other institutional investors own 43.19% of the company’s stock.

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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.

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