Galp Energia Sgps (GLPEY) Raised to Buy at Zacks Investment Research

Galp Energia Sgps (OTCMKTS:GLPEY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $11.00 target price on the energy company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.23% from the stock’s previous close.

According to Zacks, “Galp Energia SGPS SA is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in refining and marketing of oil products, natural gas marketing and sales and power generation. Galp Energia offers products within the following groups: motor fuels, natural gas, LPG, bitumen, chemicals and lubricants. The Company also offers gas appliances for cooking, heating or lighting. Galp Energia SGPS SA is headquartered in Lisbon, Portugal. “

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Shares of OTCMKTS:GLPEY traded down $0.01 during trading on Friday, reaching $9.63. 12,361 shares of the company traded hands, compared to its average volume of 19,665. The firm has a market cap of $14,605.98, a PE ratio of 80.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.55. Galp Energia Sgps has a 52-week low of $7.15 and a 52-week high of $10.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.52.

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About Galp Energia Sgps

Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. Its Exploration & Production segment explores, develops, and produces hydrocarbons in approximately 53 projects with proved, probable, and possible reserves of 673 million barrels of oil equivalent. The company?s Refining & Marketing of Oil Products segment engages in the refining, retail, and wholesale marketing of oil products; operation of oil products storage and transportation infrastructure; and operation of 1,436 service stations in Portugal, Spain, and Africa.

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