Galp Energia SGPS (OTCMKTS:GLPEY) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Galp Energia SGPS (OTCMKTS:GLPEY) from a neutral rating to an overweight rating in a research report released on Tuesday morning, Marketbeat reports.

GLPEY has been the subject of several other reports. Morgan Stanley raised shares of Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research report on Tuesday, January 6th. Santander cut Galp Energia SGPS from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 28th. Jefferies Financial Group downgraded Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a report on Thursday, January 8th. Berenberg Bank cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Citigroup cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Galp Energia SGPS has an average rating of “Moderate Buy”.

Galp Energia SGPS Price Performance

Shares of Galp Energia SGPS stock opened at $10.07 on Tuesday. The business has a 50 day moving average of $9.08 and a 200 day moving average of $9.46. Galp Energia SGPS has a 52 week low of $6.76 and a 52 week high of $10.67. The company has a market cap of $15.18 billion, a PE ratio of 13.99 and a beta of 0.06. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.60.

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.