Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down - Here's What Happened

Key Points

• Galp Energia shares opened lower, falling from a previous close of $11.54 to $11.00 before last trading near $11.01 on volume of 8,836 shares.
• Analyst sentiment remains cautious: three analysts rate the stock Buy and six rate it Hold, giving Galp an overall average rating of “Hold.”
• Galp reported quarterly earnings of $0.60 per share, exceeding the $0.34 consensus estimate by $0.26; analysts expect full-year EPS of approximately $1.03.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) 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.

Wall Street Analyst Weigh In

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

Galp Energia SGPS Price Performance

The stock has a fifty day moving average of $10.99 and a two-hundred day moving average of $10.92. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 22.08 and a beta of -0.07. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last released its earnings results on Monday, July 27th. The energy company reported $0.60 EPS for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Galp Energia SGPS SA will post 1.03 earnings per share for the current year.

Galp Energia SGPS Company Profile

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.

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