Galp Energia SGPS SA (OTCMKTS:GLPEY – Get Free Report) saw strong trading volume on Monday . 671,998 shares changed hands during mid-day trading, an increase of 723% from the previous session’s volume of 81,624 shares.The stock last traded at $10.70 and had previously closed at $11.00.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Morgan Stanley downgraded shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 24th. HSBC cut shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Zacks Research cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Galp Energia SGPS presently has an average rating of “Hold”.
Check Out Our Latest Report on GLPEY
Galp Energia SGPS Trading Down 3.1%
Galp Energia SGPS (OTCMKTS:GLPEY – Get Free Report) last issued its earnings results on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $6.19 billion for the quarter, compared to analyst estimates of $5.73 billion. Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%. As a group, equities analysts expect that Galp Energia SGPS SA will post 1 earnings per share for the current fiscal year.
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.
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