North American Energy Partners, Inc. (NYSE:NOA) Cut to Hold at Zacks Investment Research

North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, July 15th.

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. “

NOA has been the topic of several other reports. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price objective on shares of North American Energy Partners in a research note on Tuesday, May 2nd. National Bank Financial reiterated an “outperform” rating on shares of North American Energy Partners in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $6.88.

Shares of North American Energy Partners (NOA) opened at 4.15 on Friday. The company has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.71. North American Energy Partners has a one year low of $2.34 and a one year high of $5.70. The company has a market cap of $114.26 million, a P/E ratio of 53.90 and a beta of 0.64.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of North American Energy Partners during the first quarter valued at approximately $104,000. Russell Investments Group Ltd. increased its position in shares of North American Energy Partners by 144.7% in the first 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of North American Energy Partners by 42.9% in the first 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 during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of North American Energy Partners by 82.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 60,592 shares of the oil and gas company’s stock valued at $300,000 after buying an additional 27,292 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of North American Energy Partners during the first quarter valued at approximately $1,880,000. 45.07% of the stock is currently owned by institutional investors and hedge funds.

North American Energy Partners Company Profile

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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