Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Up – Should You Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY) gapped up prior to trading on Tuesday . The stock had previously closed at $11.9440, but opened at $12.39. Galp Energia SGPS shares last traded at $12.39, with a volume of 2,403 shares changing hands.

Analyst Ratings Changes

GLPEY has been the subject of several recent research reports. Morgan Stanley upgraded shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Zacks Research lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Galp Energia SGPS Trading Up 1.2%

The business has a 50 day moving average of $11.15 and a two-hundred day moving average of $11.22. The firm has a market cap of $16.99 billion, a P/E ratio of 14.55 and a beta of -0.06. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.26. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.83%. The company had revenue of $8.02 billion for the quarter, compared to analyst estimates of $6.79 billion. Analysts predict that Galp Energia SGPS SA will post 1.21 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Galp Energia SGPS stock. Public Employees Retirement System of Ohio bought a new position in shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,524 shares of the energy company’s stock, valued at approximately $164,000.

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.