North American Energy Partners Inc. (NOA) Upgraded by Zacks Investment Research to Hold
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 downgraded shares of North American Energy Partners from a hold rating to a sell rating in a research report on Monday, August 22nd.
North American Energy Partners (NYSE:NOA) traded up 7.14% during mid-day trading on Wednesday, reaching $2.85. 42,108 shares of the company were exchanged. The company’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.52. The stock’s market capitalization is $84.08 million. North American Energy Partners has a 12-month low of $1.39 and a 12-month high of $3.10.
The company also recently disclosed a dividend, which will be paid on Friday, October 7th. Stockholders of record on Wednesday, August 31st will be given a $0.015 dividend. The ex-dividend date is Monday, August 29th. This is an increase from North American Energy Partners’s previous dividend of $0.01. North American Energy Partners’s dividend payout ratio (DPR) is -150.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of 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 worth $114,000 after buying an additional 850 shares during the period. Bridgeway Capital Management Inc. purchased a new position in shares of North American Energy Partners during the second quarter worth approximately $166,000. Lorber David A purchased a new position in shares of North American Energy Partners during the first quarter worth approximately $179,000. K.J. Harrison & Partners Inc increased its position in shares of 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 worth $502,000 after buying an additional 150,000 shares during the period. Finally, Sprott Inc. purchased a new position in shares of North American Energy Partners during the second quarter worth approximately $564,000. 50.34% of the stock is owned by institutional investors.
About North American Energy Partners
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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