North American Energy Partners Inc. (NOA) Stock Rating Upgraded by Zacks Investment Research
North American Energy Partners Inc. (NYSE:NOA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report 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. “
Separately, TheStreet lowered 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) opened at 2.60 on Wednesday. The firm has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.52. North American Energy Partners has a 52 week low of $1.39 and a 52 week high of $3.10. The company’s market cap is $76.70 million.
The company also recently declared a dividend, which will be paid on Friday, October 7th. Investors of record on Wednesday, August 31st will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Monday, August 29th. This is a positive change from North American Energy Partners’s previous dividend of $0.01. North American Energy Partners’s payout ratio is currently -150.00%.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in 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 valued at $114,000 after buying an additional 850 shares in the last quarter. Bridgeway Capital Management Inc. purchased a new stake in North American Energy Partners during the second quarter valued at $166,000. Lorber David A purchased a new stake in North American Energy Partners during the first quarter valued at $179,000. K.J. Harrison & Partners Inc raised its stake in 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 valued at $502,000 after buying an additional 150,000 shares in the last quarter. Finally, Sprott Inc. purchased a new stake in North American Energy Partners during the second quarter valued at $564,000. Institutional investors own 50.34% of the company’s stock.
North American Energy Partners Company Profile
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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