North American Energy Partners, Inc. (NOA) Upgraded to Hold by Zacks Investment Research

North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) was upgraded by Zacks Investment Research from a “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. “

North American Energy Partners (NYSE NOA) opened at 4.35 on Wednesday. North American Energy Partners has a 12 month low of $2.59 and a 12 month high of $5.70. The stock’s 50 day moving average is $4.13 and its 200-day moving average is $4.42. The stock has a market capitalization of $116.83 million, a price-to-earnings ratio of 106.10 and a beta of 0.62.

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A number of hedge funds have recently made changes to their positions in NOA. Signia Capital Management LLC increased its position in shares of North American Energy Partners by 54.3% during the second quarter. Signia Capital Management LLC now owns 591,062 shares of the oil and gas company’s stock valued at $2,600,000 after acquiring an additional 207,958 shares during the last quarter. Russell Investments Group Ltd. raised its position in 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 purchasing an additional 21,101 shares during the period. Morgan Stanley raised its position in North American Energy Partners by 147.8% in the first quarter. Morgan Stanley now owns 850,366 shares of the oil and gas company’s stock valued at $4,210,000 after purchasing an additional 507,267 shares during the period. AJO LP raised its position in North American Energy Partners by 118.6% in the second quarter. AJO LP now owns 300,214 shares of the oil and gas company’s stock valued at $1,321,000 after purchasing an additional 162,891 shares during the period. Finally, Renaissance Technologies LLC raised its position in North American Energy Partners by 45.7% in the first quarter. Renaissance Technologies LLC now owns 1,068,300 shares of the oil and gas company’s stock valued at $5,288,000 after purchasing an additional 335,040 shares during the period. 39.52% of the stock is owned by institutional investors.

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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