Zacks Investment Research Downgrades GALP ENERGIA SG/ADR (GLPEY) to Sell

Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “Galp Energia SGPS SA is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in refining and marketing of oil products, natural gas marketing and sales and power generation. Galp Energia offers products within the following groups: motor fuels, natural gas, LPG, bitumen, chemicals and lubricants. The Company also offers gas appliances for cooking, heating or lighting. Galp Energia SGPS SA is headquartered in Lisbon, Portugal. “

Several other equities research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of GALP ENERGIA SG/ADR from a sell rating to a hold rating in a research report on Monday, January 7th. Goldman Sachs Group upgraded shares of GALP ENERGIA SG/ADR from a sell rating to a neutral rating in a research report on Monday, February 11th. Finally, JPMorgan Chase & Co. cut shares of GALP ENERGIA SG/ADR from a neutral rating to an underweight rating in a research report on Monday, March 11th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $8.50.

Shares of GALP ENERGIA SG/ADR stock opened at $8.17 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.72 and a quick ratio of 1.26. GALP ENERGIA SG/ADR has a 12-month low of $7.50 and a 12-month high of $10.43.

GALP ENERGIA SG/ADR Company Profile

Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. It explores, develops, and produces hydrocarbons in approximately 50 projects with proved, probable, and possible reserves of 755 million barrels of oil equivalent. The company also engages in the refining, retail, and wholesale marketing of oil products; operation of oil products storage and transportation infrastructure; and operation of 1,459 service stations in Portugal, Spain, and Africa.

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