Galp Energia SGPS (OTCMKTS:GLPEY) Lowered to “Hold” Rating by Zacks Research

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

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

Galp Energia SGPS Price Performance

OTCMKTS GLPEY opened at $10.82 on Tuesday. The company has a 50-day moving average price of $11.60 and a two-hundred day moving average price of $10.45. 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 market cap of $14.69 billion, a price-to-earnings ratio of 21.64 and a beta of -0.06. Galp Energia SGPS has a 52 week low of $7.87 and a 52 week high of $12.87.

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). The company had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $5.73 billion. Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. Analysts forecast 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.