North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, July 8th. The firm currently has a $4.75 price objective on the oil and gas company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.95% from the company’s previous close.
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 subject of several other research reports. National Bank Financial reiterated an “outperform” rating on shares of North American Energy Partners in a research note on Wednesday, May 3rd. Canaccord Genuity reiterated a “buy” rating and set a $9.00 target price on shares of North American Energy Partners in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $6.88.
Shares of North American Energy Partners (NYSE NOA) opened at 4.40 on Friday. The company has a 50-day moving average of $4.51 and a 200-day moving average of $4.66. 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 capitalization of $121.15 million, a PE ratio of 58.67 and a beta of 0.64.
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A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in North American Energy Partners during the first quarter worth approximately $104,000. Russell Investments Group Ltd. raised its stake 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 worth $177,000 after buying an additional 21,101 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in 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 worth $193,000 after buying an additional 11,717 shares during the last quarter. O Shaughnessy Asset Management LLC raised 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 in the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of North American Energy Partners during the first quarter valued at approximately $1,880,000. 45.13% 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 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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