Galp Energia SGPS (OTCMKTS:GLPEY) Rating Lowered to Hold at Zacks Research

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

Several other analysts also recently weighed in on GLPEY. HSBC downgraded Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. Jefferies Financial Group upgraded Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Morgan Stanley downgraded Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Two investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Down 3.8%

Shares of Galp Energia SGPS stock opened at $10.82 on Tuesday. The business has a 50-day moving average of $11.60 and a 200-day moving average of $10.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.68 and a quick ratio of 1.38. The company has a market capitalization of $14.69 billion, a PE ratio of 21.64 and a beta of -0.06. Galp Energia SGPS has a 1-year low of $7.87 and a 1-year high of $12.87.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its earnings results 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). The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $5.73 billion. Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. As a group, equities analysts forecast that Galp Energia SGPS will post 1 EPS for the current fiscal year.

About Galp Energia SGPS

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.