Galp Energia SGPS (OTCMKTS:GLPEY) Posts Earnings Results, Beats Estimates By $0.26 EPS

Galp Energia SGPS (OTCMKTS:GLPEY) posted its earnings results on Monday. The energy company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.26, Zacks reports. Galp Energia SGPS had a return on equity of 30.83% and a net margin of 5.43%.The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $6.79 billion.

Galp Energia SGPS Trading Up 1.2%

Shares of Galp Energia SGPS stock opened at $11.10 on Wednesday. The firm has a 50-day moving average of $10.96 and a 200-day moving average of $10.96. The stock has a market cap of $15.07 billion, a PE ratio of 12.91 and a beta of -0.07. Galp Energia SGPS has a 52-week low of $8.10 and a 52-week 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.

Analyst Ratings Changes

Several analysts recently commented on GLPEY shares. Jefferies Financial Group raised shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Morgan Stanley raised shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Finally, Zacks Research downgraded 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, Galp Energia SGPS currently has an average rating of “Hold”.

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.