Zacks Investment Research upgraded shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) from a sell rating to a hold rating in a report published on Tuesday, July 18th. The firm currently has $8.75 price target on the energy company’s stock.

According to Zacks, “Galp Energia SGPS SA is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in refining and marketing of oil products, natural gas marketing and sales and power generation. Galp Energia offers products within the following groups: motor fuels, natural gas, LPG, bitumen, chemicals and lubricants. The Company also offers gas appliances for cooking, heating or lighting. Galp Energia SGPS SA is headquartered in Lisbon, Portugal. “

GLPEY has been the subject of a number of other reports. Deutsche Bank AG downgraded Galp Energia SGPS SA from a buy rating to a hold rating in a research note on Wednesday, July 5th. Jefferies Group LLC downgraded Galp Energia SGPS SA from a buy rating to a hold rating in a research note on Wednesday, May 17th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Galp Energia SGPS SA presently has an average rating of Hold and a consensus target price of $8.75.

Galp Energia SGPS SA (OTCMKTS GLPEY) traded down 0.718% during midday trading on Tuesday, reaching $8.161. 7,454 shares of the company were exchanged. Galp Energia SGPS SA has a 52 week low of $6.08 and a 52 week high of $8.35. The firm has a market capitalization of $13.54 billion, a PE ratio of 28.288 and a beta of 0.54. The company has a 50-day moving average of $7.83 and a 200 day moving average of $7.60.

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About Galp Energia SGPS SA

Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. Its Exploration & Production segment explores, develops, and produces hydrocarbons in approximately 53 projects with proved, probable, and possible reserves of 673 million barrels of oil equivalent. The company’s Refining & Marketing of Oil Products segment engages in the refining, retail, and wholesale marketing of oil products; operation of oil products storage and transportation infrastructure; and operation of 1,436 service stations in Portugal, Spain, and Africa.

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