Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down – What’s Next?

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) gapped down before the market opened on Monday . The stock had previously closed at $11.54, but opened at $11.00. Galp Energia SGPS shares last traded at $11.0125, with a volume of 8,836 shares.

Analysts Set New Price Targets

Several research firms have weighed in on GLPEY. Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note on Friday, July 3rd. Finally, Zacks Research lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Galp Energia SGPS Stock Performance

The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $10.99 and its two-hundred day moving average price is $10.92. The firm has a market capitalization of $14.99 billion, a PE ratio of 22.08 and a beta of -0.07.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.26. Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%. On average, equities analysts expect that Galp Energia SGPS SA will post 1.03 earnings per share for the current 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.