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

Key Points

• Shares of Galp Energia SGPS gapped down pre-market Friday, opening at $11.23 versus Thursday's close of $11.75 and last trading at $11.29 on light volume (812 shares).
• Analysts are mixed but the consensus is a Moderate Buy, with two Strong Buy, two Buy and six Hold ratings after several recent upgrades and downgrades (notably JPMorgan to Overweight and Jefferies to Hold).
• Key fundamentals: $15.44 billion market cap, PE of 13.54, and a quarterly EPS beat of $0.14 vs. $0.12, with a return on equity of 21.29%.

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $11.75, but opened at $11.23. Galp Energia SGPS shares last traded at $11.29, with a volume of 812 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on GLPEY. Jefferies Financial Group upgraded Galp Energia SGPS from a "moderate sell" rating to a "hold" rating in a research note on Sunday, April 5th. Berenberg Bank cut Galp Energia SGPS from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 11th. HSBC cut Galp Energia SGPS from a "buy" rating to a "hold" rating in a research note on Friday, March 20th. Morgan Stanley cut Galp Energia SGPS from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. upgraded Galp Energia SGPS from a "neutral" rating to an "overweight" rating in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Galp Energia SGPS Stock Performance

The stock has a market capitalization of $15.44 billion, a PE ratio of 13.54 and a beta of -0.03. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average price of $11.27 and a 200-day moving average price of $10.07.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its quarterly earnings data on Monday, March 23rd. The energy company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Galp Energia SGPS had a return on equity of 21.29% and a net margin of 5.57%.The firm had revenue of $5.50 billion during the quarter. Research analysts expect that Galp Energia SGPS SA will post 0.75 EPS for the current fiscal 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.

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