Galp Energia SGPS (OTCMKTS:GLPEY) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Galp Energia SGPS SA (OTCMKTS:GLPEY) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $11.39 and traded as high as $11.54. Galp Energia SGPS shares last traded at $11.54, with a volume of 40,862 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GLPEY shares. Morgan Stanley reissued an “overweight” rating on shares of Galp Energia SGPS in a report on Friday, September 4th. Barclays reaffirmed an “overweight” rating on shares of Galp Energia SGPS in a research note on Monday, October 5th. Zacks Research upgraded Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Citigroup reissued a “neutral” rating on shares of Galp Energia SGPS in a research note on Tuesday, October 13th. Finally, HSBC reissued a “hold” rating on shares of Galp Energia SGPS in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Trading Up 1.5%

The business has a 50 day moving average of $12.41 and a 200-day moving average of $11.39. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $15.67 billion and a P/E ratio of 14.25.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its earnings results on Monday, October 26th. The energy company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.36). Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%. The company had revenue of $9.06 billion for the quarter, compared to analyst estimates of $9.38 billion. Analysts anticipate that Galp Energia SGPS SA will post 1.45 EPS for the current fiscal year.

About Galp Energia SGPS

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp’s upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.