Galp Energia SGPS (OTCMKTS:GLPEY) Stock Price Down 5.4% – Here’s Why

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s share price traded down 5.4% during mid-day trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.03. Approximately 7,801 shares traded hands during trading, a decline of 93% from the average daily volume of 110,427 shares. The stock had previously closed at $11.66.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GLPEY shares. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. HSBC downgraded Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. Zacks Research lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Galp Energia SGPS Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $10.99 and a 200 day moving average price of $10.78. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 22.05 and a beta of -0.07.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings results on Monday, April 27th. The energy company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.73 billion. As a group, equities research analysts expect that Galp Energia SGPS SA will post 1.03 earnings per share for the current year.

About Galp Energia SGPS

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.