Galp Energia SGPS (OTCMKTS:GLPEY) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Galp Energia SGPS (OTCMKTS:GLPEY) released its quarterly earnings results on Monday. The energy company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.26, Zacks reports. Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%.

Galp Energia SGPS Price Performance

GLPEY stock opened at $11.54 on Monday. The company’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $10.92. The firm has a market cap of $15.67 billion, a P/E ratio of 23.08 and a beta of -0.07. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59. Galp Energia SGPS has a 12 month low of $8.10 and a 12 month high of $12.87.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley upgraded shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note on Friday, July 3rd. Jefferies Financial Group upgraded Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Finally, Zacks Research lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Galp Energia SGPS presently has an average rating of “Hold”.

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.