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

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.36, but opened at $9.03. Galp Energia SGPS shares last traded at $9.07, with a volume of 3,853 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group upgraded shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Sanford C. Bernstein raised shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Cfra Research upgraded shares of Galp Energia SGPS to a "moderate sell" rating in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a strong buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".

Galp Energia SGPS Price Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.64 and a quick ratio of 1.40. The stock's 50 day simple moving average is $8.10 and its two-hundred day simple moving average is $8.23. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 9.64 and a beta of 0.28.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last released its earnings results on Monday, April 28th. The energy company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.10. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.32 billion. Galp Energia SGPS had a return on equity of 24.38% and a net margin of 6.17%. On average, analysts forecast that Galp Energia SGPS SA will post 0.75 earnings per share for the current fiscal year.

Galp Energia SGPS Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were issued a $0.0978 dividend. This represents a dividend yield of 2.2%. The ex-dividend date was Monday, June 2nd. Galp Energia SGPS's payout ratio is presently 18.09%.

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.