Zacks Investment Research Downgrades Galp (GLPEY) to Hold

Galp (OTCMKTS:GLPEY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, March 19th.

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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Galp stock traded up $0.03 during trading on Monday, hitting $9.96. 9,642 shares of the company were exchanged, compared to its average volume of 19,538. Galp has a 52 week low of $7.15 and a 52 week high of $10.21. The company has a market capitalization of $15,161.22, a P/E ratio of 82.88, a price-to-earnings-growth ratio of 2.01 and a beta of 0.55. The company has a current ratio of 1.76, a quick ratio of 1.36 and a debt-to-equity ratio of 0.42.

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About Galp

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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