Galp Energia SGPS (OTCMKTS:GLPEY) Shares Pass Below 50 Day Moving Average – Here’s Why

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.59 and traded as low as $11.07. Galp Energia SGPS shares last traded at $11.07, with a volume of 52,546 shares trading hands.

Wall Street Analysts Forecast Growth

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

Galp Energia SGPS Price Performance

The company’s fifty day moving average price is $11.59 and its 200 day moving average price is $10.31. 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 has a market capitalization of $15.03 billion, a price-to-earnings ratio of 22.14 and a beta of -0.06.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its quarterly earnings results on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing the consensus estimate 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 business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $5.73 billion. Equities research analysts expect that Galp Energia SGPS SA will post 1 earnings per share for the current 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.