Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) from a sell rating to a hold rating in a research report report published on Thursday.
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 recently weighed in on GLPEY. Bank of America cut shares of GALP ENERGIA SG/ADR from a buy rating to a neutral rating in a report on Friday, October 5th. Deutsche Bank cut shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a report on Wednesday, September 19th. ValuEngine cut shares of GALP ENERGIA SG/ADR from a hold rating to a sell rating in a report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. cut shares of GALP ENERGIA SG/ADR from an overweight rating to a neutral rating in a report on Tuesday, September 11th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of Hold and an average price target of $11.00.
About GALP ENERGIA SG/ADR
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.
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