Galp Energia SGPS (OTCMKTS:GLPEY) Trading Down 5.4% – Here’s Why

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) were down 5.4% during trading on Tuesday . The stock traded as low as $11.03 and last traded at $11.03. 7,801 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 110,427 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Jefferies Financial Group upgraded Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. HSBC downgraded Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Zacks Research downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Galp Energia SGPS presently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Performance

The stock has a 50-day moving average price of $11.00 and a 200 day moving average price of $10.75. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 22.06 and a beta of -0.07.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%.The firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $5.73 billion. On average, analysts forecast that Galp Energia SGPS SA will post 1.03 EPS 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.