Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down After Earnings Miss

Galp Energia SGPS SA (OTCMKTS:GLPEY) gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $12.5052, but opened at $11.62. Galp Energia SGPS shares last traded at $11.6135, with a volume of 3,479 shares.

The energy company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.36). Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%.

Analysts Set New Price Targets

GLPEY has been the topic of several research analyst reports. Morgan Stanley reiterated 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. Zacks Research raised Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Barclays reiterated an “overweight” rating on shares of Galp Energia SGPS in a research note on Monday, October 5th. Finally, HSBC reissued a “hold” rating on shares of Galp Energia SGPS in a research report on Friday, September 25th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The firm has a market capitalization of $15.74 billion and a price-to-earnings ratio of 13.48. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $12.45 and a 200 day moving average price of $11.63.

About Galp Energia SGPS

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.