Galp Energia Sgps (GLPEY) Rating Increased 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 report issued on Wednesday. The brokerage currently has a $11.00 price objective on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.42% from the company’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. “

Shares of Galp Energia Sgps (GLPEY) traded up $0.11 during trading hours on Wednesday, reaching $9.53. The company had a trading volume of 18,788 shares, compared to its average volume of 11,228. Galp Energia Sgps has a 1 year low of $7.05 and a 1 year high of $9.66. The company has a market cap of $14,806.48, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 7.11 and a beta of 0.56. 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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