Zacks Research Downgrades Galp Energia SGPS (OTCMKTS:GLPEY) to Hold

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

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Morgan Stanley cut Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 24th. 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, HSBC cut Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Galp Energia SGPS Price Performance

OTCMKTS GLPEY opened at $10.82 on Tuesday. Galp Energia SGPS has a twelve month low of $7.87 and a twelve month high of $12.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.38 and a current ratio of 1.68. The stock has a market capitalization of $14.69 billion, a PE ratio of 21.64 and a beta of -0.06. The stock has a 50-day simple moving average of $11.60 and a 200 day simple moving average of $10.45.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 earnings per share 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. Research analysts anticipate 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.