Galp Energia SGPS (OTCMKTS:GLPEY) Lowered to “Hold” Rating by HSBC

HSBC downgraded shares of Galp Energia SGPS (OTCMKTS:GLPEY) from a buy rating to a hold rating in a report published on Friday, Marketbeat Ratings reports.

GLPEY has been the subject of a number of other research reports. Morgan Stanley raised Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Berenberg Bank lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Jefferies Financial Group lowered Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research note on Thursday, January 8th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Price Performance

Shares of Galp Energia SGPS stock opened at $12.30 on Friday. The company’s fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $9.81. Galp Energia SGPS has a 12-month low of $6.76 and a 12-month high of $12.87. The firm has a market cap of $18.54 billion, a PE ratio of 17.08 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.

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.