Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) from a hold rating to a sell rating in a research report released on Friday.
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. “
A number of other brokerages also recently weighed in on GLPEY. Bank of America downgraded shares of GALP ENERGIA SG/ADR from a buy rating to a neutral rating in a research report on Friday, October 5th. Deutsche Bank downgraded shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research report on Wednesday, September 19th. ValuEngine downgraded shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. downgraded shares of GALP ENERGIA SG/ADR from an overweight rating to a neutral rating in a research report on Tuesday, September 11th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has an average rating of Sell and a consensus price target of $11.00.
GALP ENERGIA SG/ADR Company Profile
Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. Its Exploration & Production segment explores, develops, and produces hydrocarbons in approximately 51 projects with proved, probable, and possible reserves of 748 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 1,459 service stations in Portugal, Spain, and Africa.
Recommended Story: Why is the Consumer Price Index (CPI) important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GALP ENERGIA SG/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GALP ENERGIA SG/ADR and related companies with MarketBeat.com's FREE daily email newsletter.