Galp Energia SGPS (OTCMKTS:GLPEY) Issues Earnings Results

Galp Energia SGPS (OTCMKTS:GLPEY) issued its quarterly earnings data on Monday. The energy company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.36), Zacks reports. The business had revenue of $9.06 billion for the quarter, compared to analyst estimates of $9.38 billion.

Galp Energia SGPS Trading Down 0.4%

GLPEY stock opened at $11.37 on Wednesday. The firm has a 50 day moving average price of $12.42 and a 200-day moving average price of $11.37. Galp Energia SGPS has a 52-week low of $8.10 and a 52-week high of $13.09.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GLPEY shares. Zacks Research raised shares of Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. HSBC reissued a “hold” rating on shares of Galp Energia SGPS in a research note on Friday, September 25th. Morgan Stanley restated an “overweight” rating on shares of Galp Energia SGPS in a report on Friday, September 4th. Citigroup restated a “neutral” rating on shares of Galp Energia SGPS in a report on Tuesday, October 13th. Finally, BNP Paribas Exane cut Galp Energia SGPS to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Galp Energia SGPS currently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp’s upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.