Galp Energia SGPS (OTCMKTS:GLPEY) Cut to Hold at Berenberg Bank

Berenberg Bank lowered shares of Galp Energia SGPS (OTCMKTS:GLPEY) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

GLPEY has been the subject of several other reports. Santander lowered Galp Energia SGPS from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 28th. Barclays upgraded Galp Energia SGPS from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 31st. Finally, Citigroup lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Down 3.3%

OTCMKTS:GLPEY opened at $8.16 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.35. Galp Energia SGPS has a one year low of $6.76 and a one year high of $10.67. The firm’s 50 day simple moving average is $9.81 and its 200 day simple moving average is $9.48. The company has a market cap of $11.35 billion, a PE ratio of 11.33 and a beta of 0.04.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings results on Monday, October 27th. The energy company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Galp Energia SGPS had a return on equity of 18.21% and a net margin of 4.90%.The business had revenue of $5.81 billion for the quarter. On average, research analysts anticipate that Galp Energia SGPS will post 0.75 earnings per share for the current year.

About Galp Energia SGPS

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.