Galp Energia SGPS (OTCMKTS:GLPEY) Announces Quarterly Earnings Results

Galp Energia SGPS (OTCMKTS:GLPEY) posted its quarterly earnings data on Monday. The energy company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02, Zacks reports. Galp Energia SGPS had a net margin of 4.90% and a return on equity of 18.21%.

Galp Energia SGPS Trading Up 2.2%

OTCMKTS GLPEY opened at $12.01 on Wednesday. The business’s fifty day moving average is $10.65 and its 200-day moving average is $9.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.35. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of 16.68 and a beta of 0.03. Galp Energia SGPS has a one year low of $6.76 and a one year high of $12.87.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GLPEY. Citigroup downgraded shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Morgan Stanley downgraded shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. Berenberg Bank lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. HSBC cut shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Jefferies Financial Group downgraded Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.