The Goldman Sachs Group Upgrades Galp Energia, SGPS (OTCMKTS:GLPEY) to Strong-Buy

Galp Energia, SGPS (OTCMKTS:GLPEY) was upgraded by analysts at The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Berenberg Bank upgraded Galp Energia, SGPS to a “strong-buy” rating in a research report on Friday, November 22nd.

Galp Energia, SGPS Trading Down 2.4 %

Shares of GLPEY stock opened at $8.61 on Wednesday. The company has a market capitalization of $11.98 billion, a P/E ratio of 9.16 and a beta of 0.47. The firm has a 50-day moving average price of $8.71 and a 200 day moving average price of $9.71. The company has a quick ratio of 1.31, a current ratio of 1.62 and a debt-to-equity ratio of 0.53. Galp Energia, SGPS has a 12-month low of $7.07 and a 12-month high of $11.05.

Galp Energia, SGPS (OTCMKTS:GLPEY) last announced its earnings results on Monday, October 28th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $6.02 billion for the quarter. Galp Energia, SGPS had a net margin of 6.17% and a return on equity of 24.36%. Research analysts forecast that Galp Energia, SGPS will post 0.75 earnings per share for the current fiscal year.

About Galp Energia, SGPS

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.