Galp Energia, SGPS (OTCMKTS:GLPEY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm presently has a $6.50 price target on the energy company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.45% from the company’s current price.
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. “
Several other research firms have also commented on GLPEY. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Galp Energia, SGPS in a research report on Monday. Morgan Stanley reaffirmed an “equal weight” rating on shares of Galp Energia, SGPS in a research report on Tuesday. Royal Bank of Canada downgraded Galp Energia, SGPS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 22nd. Finally, Societe Generale upgraded Galp Energia, SGPS from a “hold” rating to a “buy” rating and set a $10.30 price target for the company in a report on Tuesday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Galp Energia, SGPS has an average rating of “Hold” and an average target price of $8.40.
Galp Energia, SGPS (OTCMKTS:GLPEY) last released its quarterly earnings results on Monday, July 26th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $4.45 billion for the quarter. Galp Energia, SGPS had a negative return on equity of 0.48% and a net margin of 0.76%. Analysts anticipate that Galp Energia, SGPS will post 0.34 earnings per share for the current fiscal year.
Galp Energia, SGPS Company Profile
Galp Energia SGPS SA engages in the exploration and production of oil and gas. It operates through the following segments: Upstream; Refining and Midstream; Commercial; and Renewables and New Businesses. The Upstream segment includes exploration, development, and production of hydrocarbons, mainly focused on Brazil, Mozambique, and Angola.
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