Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down – Here’s What Happened

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $12.57, but opened at $12.1615. Galp Energia SGPS shares last traded at $12.1615, with a volume of 262 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Galp Energia SGPS in a research report on Friday. Zacks Research cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Galp Energia SGPS Stock Performance

The business has a 50 day moving average price of $11.55 and a 200 day moving average price of $11.39. The stock has a market capitalization of $16.08 billion, a PE ratio of 13.77 and a beta of -0.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.38.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.26. The business had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. As a group, equities research analysts expect that Galp Energia SGPS SA will post 1.21 earnings per share 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.