Galp Energia SGPS (OTCMKTS:GLPEY) Sees Large Volume Increase – Here’s Why

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) saw unusually-high trading volume on Wednesday . Approximately 51,073 shares were traded during trading, a decline of 20% from the previous session’s volume of 64,100 shares.The stock last traded at $10.96 and had previously closed at $11.23.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GLPEY shares. JPMorgan Chase & Co. upgraded shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. HSBC cut Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Zacks Research downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lowered Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 24th. Finally, Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Galp Energia SGPS currently has an average rating of “Moderate Buy”.

Galp Energia SGPS Trading Down 0.9%

The stock has a market capitalization of $14.56 billion, a PE ratio of 21.44 and a beta of -0.06. The stock’s 50 day moving average price is $11.57 and its 200-day moving average price is $10.46. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59.

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