Zacks Investment Research Upgrades Galp Energia SGPS SA (GLPEY) to Buy
Zacks Investment Research upgraded shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $9.25 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. “
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG downgraded Galp Energia SGPS SA from a buy rating to a hold rating in a research report on Wednesday, July 5th. Jefferies Group LLC downgraded Galp Energia SGPS SA from a buy rating to a hold rating in a research report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Galp Energia SGPS SA currently has an average rating of Hold and a consensus price target of $9.25.
Shares of Galp Energia SGPS SA (GLPEY) opened at 8.17 on Wednesday. The firm has a market cap of $13.55 billion, a P/E ratio of 28.42 and a beta of 0.54. The firm has a 50-day moving average price of $7.99 and a 200-day moving average price of $7.65. Galp Energia SGPS SA has a 12-month low of $6.08 and a 12-month high of $8.35.
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 companys 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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