Galp Energia SGPS (OTCMKTS:GLPEY) Sees Strong Trading Volume – Time to Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw an uptick in trading volume on Wednesday . 316,228 shares changed hands during trading, an increase of 251% from the previous session’s volume of 90,191 shares.The stock last traded at $10.3860 and had previously closed at $10.61.

Analyst Upgrades and Downgrades

GLPEY has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Zacks Research downgraded shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley lowered shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 24th. Finally, HSBC cut shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Galp Energia SGPS presently has an average rating of “Hold”.

Galp Energia SGPS Stock Up 1.0%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.38 and a current ratio of 1.68. The firm’s 50-day moving average is $11.11 and its 200 day moving average is $10.54. The firm has a market capitalization of $14.23 billion, a PE ratio of 20.96 and a beta of -0.08.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its 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 business 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, research analysts forecast 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.