North American Energy Partners (NOA) Sets New 12-Month High Following Insider Buying Activity

Shares of North American Energy Partners, Inc. (TSE:NOA) (NYSE:NOA) hit a new 52-week high during mid-day trading on Tuesday following insider buying activity. The company traded as high as C$7.76 and last traded at C$7.51, with a volume of 16415 shares changing hands. The stock had previously closed at C$7.28.

Specifically, Director Martin Robert Ferron sold 8,810 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of C$6.80, for a total value of C$59,908.00. Also, insider Joseph Charles Lambert purchased 5,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was acquired at an average price of C$6.20 per share, for a total transaction of C$36,580.00. Over the last quarter, insiders have bought 739,400 shares of company stock worth $5,069,619 and have sold 42,329 shares worth $298,522.

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Several research analysts recently commented on NOA shares. Raymond James Financial raised their price target on shares of North American Energy Partners from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. National Bank Financial raised their price target on shares of North American Energy Partners from C$11.50 to C$12.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Pi Financial restated a “top pick” rating on shares of North American Energy Partners in a report on Thursday, April 5th.

North American Energy Partners (TSE:NOA) (NYSE:NOA) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.11 by C($0.02). North American Energy Partners had a net margin of 2.99% and a return on equity of 6.80%. The business had revenue of C$82.05 million during the quarter, compared to analysts’ expectations of C$75.70 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Tuesday, March 6th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, March 5th.

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North American Energy Partners Company Profile

North American Energy Partners Inc, through its subsidiaries, provides a range of mining and heavy construction services to customers in the resource development and industrial construction sectors, primarily in Western Canada. The company offers construction and operations support services through various stages of an oil sands project's lifecycle.

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