Galp Energia SGPS (OTCMKTS:GLPEY) Sees Strong Trading Volume – Here’s Why

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) saw an uptick in trading volume on Monday . 349,746 shares were traded during mid-day trading, an increase of 411% from the previous session’s volume of 68,383 shares.The stock last traded at $8.4250 and had previously closed at $8.30.

Wall Street Analysts Forecast Growth

GLPEY has been the subject of several research reports. Berenberg Bank downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Barclays raised Galp Energia SGPS from an “equal weight” rating to an “overweight” rating in a report on Friday, October 31st. Santander lowered shares of Galp Energia SGPS from an “outperform” rating to a “neutral” rating in a research report on Tuesday, October 28th. Finally, Citigroup cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Trading Up 1.2%

The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $9.58 and its 200 day moving average price is $9.48. The company has a market capitalization of $11.68 billion, a P/E ratio of 11.67 and a beta of 0.04.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its earnings results on Monday, October 27th. The energy company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Galp Energia SGPS had a return on equity of 18.21% and a net margin of 4.90%.The business had revenue of $5.81 billion during the quarter. As a group, equities research analysts predict that Galp Energia SGPS SA will post 0.75 earnings per share for the current year.

About Galp Energia SGPS

Galp Energia SGPS is an integrated energy company headquartered in Lisbon, Portugal, with core operations spanning upstream exploration and production, midstream refining, and downstream distribution and marketing. In its upstream segment, the company explores and produces oil and natural gas in regions such as Brazil’s pre-salt basins, African offshore blocks in Angola and Mozambique, and domestic wells in Portugal. Its midstream activities include refining crude oil at the Sines facility and operating a network of pipelines, while downstream operations involve the distribution and retail sale of petroleum products through the Galp-branded service station network across the Iberian Peninsula.

In addition to its traditional oil and gas business, Galp has expanded into power generation and renewable energy.