Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down on Analyst Downgrade

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares gapped down prior to trading on Monday after HSBC downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $12.30, but opened at $11.71. Galp Energia SGPS shares last traded at $11.85, with a volume of 6,203 shares trading hands.

Several other equities analysts also recently commented on GLPEY. Jefferies Financial Group downgraded Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research note on Thursday, January 8th. Berenberg Bank cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Morgan Stanley upgraded Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Galp Energia SGPS presently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The stock has a market capitalization of $17.71 billion, a P/E ratio of 16.33 and a beta of 0.03. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $10.59 and a two-hundred day moving average price of $9.83.

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.