Galp Energia SGPS (OTCMKTS:GLPEY) Cut to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of Galp Energia SGPS (OTCMKTS:GLPEY) from an overweight rating to an equal weight rating in a report published on Tuesday, MarketBeat.com reports.

Other analysts have also recently issued research reports about the stock. Citigroup cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Jefferies Financial Group lowered Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a report on Thursday, January 8th. HSBC cut Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. JPMorgan Chase & Co. raised Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Finally, Berenberg Bank cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Down 1.4%

Shares of OTCMKTS GLPEY opened at $11.95 on Tuesday. Galp Energia SGPS has a 52-week low of $6.76 and a 52-week high of $12.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.35 and a current ratio of 1.68. The stock has a market cap of $18.01 billion, a P/E ratio of 14.23 and a beta of 0.03. The firm has a 50 day moving average price of $10.76 and a 200 day moving average price of $9.88.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its earnings results on Monday, March 23rd. The energy company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $5.50 billion for the quarter. Galp Energia SGPS had a net margin of 5.57% and a return on equity of 21.29%. Analysts expect that Galp Energia SGPS will post 0.75 EPS for the current year.

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.