Zacks Investment Research lowered shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) from a hold rating to a sell rating in a research note published 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 (NYSE NOA) opened at 4.20 on Wednesday. The company’s 50-day moving average price is $4.04 and its 200 day moving average price is $4.47. North American Energy Partners has a 12 month low of $2.43 and a 12 month high of $5.70. The firm has a market capitalization of $112.80 million, a PE ratio of 107.69 and a beta of 0.67.

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The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, August 31st will be given a $0.016 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.52%. This is a positive change from North American Energy Partners’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, August 29th. North American Energy Partners’s payout ratio is presently 600.00%.

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in North American Energy Partners by 5.9% in the 2nd quarter. Royal Bank of Canada now owns 59,904 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 3,311 shares in the last quarter. Intact Investment Management Inc. increased its position in North American Energy Partners by 2.9% in the 2nd quarter. Intact Investment Management Inc. now owns 419,300 shares of the oil and gas company’s stock valued at $2,344,000 after buying an additional 11,700 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in North American Energy Partners by 42.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,048 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 11,717 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in North American Energy Partners in the 1st quarter valued at about $104,000. Finally, Russell Investments Group Ltd. increased its position in North American Energy Partners by 144.7% in the 1st quarter. Russell Investments Group Ltd. now owns 35,687 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 21,101 shares in the last quarter. 39.52% of the stock is owned by institutional investors and hedge funds.

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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