Galp Energia SGPS (OTCMKTS:GLPEY) Rating Lowered to Hold at Zacks Research

Galp Energia SGPS (OTCMKTS:GLPEY) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on GLPEY. HSBC cut Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. JPMorgan Chase & Co. raised Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Morgan Stanley lowered Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Galp Energia SGPS Price Performance

GLPEY stock opened at $10.82 on Tuesday. Galp Energia SGPS has a 52-week low of $7.87 and a 52-week high of $12.87. The stock’s fifty day simple moving average is $11.60 and its 200-day simple moving average is $10.45. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 21.64 and a beta of -0.06.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%.The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $5.73 billion. Equities research analysts expect that Galp Energia SGPS will post 1 EPS for the current 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.