Galp Energia SGPS (OTCMKTS:GLPEY) Downgraded by HSBC to Hold

Galp Energia SGPS (OTCMKTS:GLPEY) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts also recently commented on the company. Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. raised shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group cut shares of Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research note on Thursday, January 8th. Morgan Stanley raised shares of Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a report on Tuesday, January 6th. Finally, Berenberg Bank lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Galp Energia SGPS Trading Up 3.3%

OTCMKTS:GLPEY opened at $12.68 on Friday. Galp Energia SGPS has a 1 year low of $6.76 and a 1 year high of $12.87. The stock’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $9.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.35. The company has a market cap of $19.11 billion, a P/E ratio of 17.61 and a beta of 0.03.

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.