Zacks Investment Research Lowers Galp Energia SGPS SA (GLPEY) to Hold
Galp Energia SGPS SA (OTCMKTS:GLPEY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Galp Energia SGPS SA is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in refining and marketing of oil products, natural gas marketing and sales and power generation. Galp Energia offers products within the following groups: motor fuels, natural gas, LPG, bitumen, chemicals and lubricants. The Company also offers gas appliances for cooking, heating or lighting. Galp Energia SGPS SA is headquartered in Lisbon, Portugal. “
Several other research firms have also issued reports on GLPEY. Deutsche Bank AG lowered Galp Energia SGPS SA from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC lowered Galp Energia SGPS SA from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.75.
Galp Energia SGPS SA (OTCMKTS:GLPEY) traded up 0.12% during midday trading on Tuesday, hitting $8.15. The company has a 50-day moving average price of $7.93 and a 200-day moving average price of $7.63. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 28.35 and a beta of 0.54. Galp Energia SGPS SA has a 52-week low of $6.08 and a 52-week high of $8.35.
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Galp Energia SGPS SA Company Profile
Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. Its Exploration & Production segment explores, develops, and produces hydrocarbons in approximately 53 projects with proved, probable, and possible reserves of 673 million barrels of oil equivalent. The companys Refining & Marketing of Oil Products segment engages in the refining, retail, and wholesale marketing of oil products; operation of oil products storage and transportation infrastructure; and operation of 1,436 service stations in Portugal, Spain, and Africa.
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