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

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw an uptick in trading volume on Tuesday . 116,021 shares traded hands during trading, an increase of 85% from the previous session’s volume of 62,562 shares.The stock last traded at $11.67 and had previously closed at $11.70.

Analyst Ratings Changes

A number of research firms have commented on GLPEY. Jefferies Financial Group raised shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Zacks Research raised Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. HSBC downgraded Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Morgan Stanley downgraded Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The business’s 50-day moving average price is $11.64 and its 200-day moving average price is $10.39. The stock has a market cap of $16.02 billion, a P/E ratio of 23.60 and a beta of -0.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.38 and a current ratio of 1.68.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings results on Monday, April 27th. The energy company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. As a group, sell-side analysts expect that Galp Energia SGPS SA will post 1 earnings per share for the current fiscal year.

Galp Energia SGPS Company Profile

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.