Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down - What's Next?

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report)'s stock price gapped down before the market opened 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 traded.

Analyst Ratings Changes

A number of brokerages have issued reports on GLPEY. Cfra Research upgraded shares of Galp Energia SGPS to a "moderate sell" rating in a research report on Tuesday, April 15th. UBS Group raised shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd.

Galp Energia SGPS Stock 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 company's 50-day moving average price is $8.02 and its two-hundred day moving average price is $8.22. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 9.63 and a beta of 0.28.

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

Galp Energia SGPS Cuts Dividend

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