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

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares gapped down before the market opened on Thursday . The stock had previously closed at $12.57, but opened at $12.1615. Galp Energia SGPS shares last traded at $12.1615, with a volume of 262 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GLPEY shares. Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note on Friday, July 3rd. Zacks Research cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a 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.com, the company has a consensus rating of “Hold”.

Galp Energia SGPS Stock Down 0.2%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.38 and a current ratio of 1.53. The stock’s 50 day simple moving average is $11.48 and its 200 day simple moving average is $11.37. The firm has a market cap of $16.53 billion, a P/E ratio of 14.16 and a beta of -0.05.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.26. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. The firm had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $6.79 billion. Research analysts anticipate that Galp Energia SGPS SA will post 1.21 EPS 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.