Galp Energia SGPS (OTCMKTS:GLPEY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Galp Energia SGPS (OTCMKTS:GLPEY) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. HSBC cut shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Jefferies Financial Group raised shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. JPMorgan Chase & Co. raised shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley cut shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Up 2.0%

GLPEY stock opened at $11.47 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. Galp Energia SGPS has a twelve month low of $7.54 and a twelve month high of $12.87. The company’s 50 day moving average is $11.53 and its two-hundred day moving average is $10.23. The stock has a market cap of $15.57 billion, a P/E ratio of 22.94 and a beta of -0.03.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Research analysts expect that Galp Energia SGPS will post 1.03 earnings per share for the current fiscal year.

Galp Energia SGPS Company Profile

Galp Energia SGPS is an integrated energy company headquartered in Lisbon, Portugal, with core operations spanning upstream exploration and production, midstream refining, and downstream distribution and marketing. In its upstream segment, the company explores and produces oil and natural gas in regions such as Brazil’s pre-salt basins, African offshore blocks in Angola and Mozambique, and domestic wells in Portugal. Its midstream activities include refining crude oil at the Sines facility and operating a network of pipelines, while downstream operations involve the distribution and retail sale of petroleum products through the Galp-branded service station network across the Iberian Peninsula.

In addition to its traditional oil and gas business, Galp has expanded into power generation and renewable energy.