Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down Following Weak Earnings

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.5052, but opened at $11.62. Galp Energia SGPS shares last traded at $11.6135, with a volume of 3,479 shares changing hands.

The energy company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.36). Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GLPEY. Citigroup reaffirmed a “neutral” rating on shares of Galp Energia SGPS in a research report on Tuesday, October 13th. Barclays reissued an “overweight” rating on shares of Galp Energia SGPS in a report on Monday, October 5th. Morgan Stanley restated an “overweight” rating on shares of Galp Energia SGPS in a research note on Friday, September 4th. HSBC reaffirmed a “hold” rating on shares of Galp Energia SGPS in a research report on Friday, September 25th. Finally, Zacks Research upgraded Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Galp Energia SGPS presently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Down 7.3%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.53. The firm’s 50-day simple moving average is $12.45 and its 200 day simple moving average is $11.63. The company has a market capitalization of $15.74 billion and a PE ratio of 13.48.

About Galp Energia SGPS

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp’s upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.