Galp Energia SGPS (OTCMKTS:GLPEY) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Galp Energia SGPS (OTCMKTS:GLPEY) issued its quarterly earnings results on Monday. The energy company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02, Zacks reports. Galp Energia SGPS had a return on equity of 18.21% and a net margin of 4.90%.The firm had revenue of $5.50 billion for the quarter.

Galp Energia SGPS Stock Performance

Shares of OTCMKTS:GLPEY opened at $12.01 on Wednesday. Galp Energia SGPS has a 12-month low of $6.76 and a 12-month high of $12.87. 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 business has a 50 day moving average of $10.65 and a 200-day moving average of $9.85. The stock has a market cap of $18.10 billion, a PE ratio of 16.68 and a beta of 0.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Jefferies Financial Group lowered shares of Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. raised shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Morgan Stanley lowered shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday. Finally, Berenberg Bank downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Two equities 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.com, the stock currently has an average rating of “Moderate Buy”.

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.