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

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw strong trading volume on Tuesday . 116,021 shares were traded during trading, an increase of 85% from the previous session’s volume of 62,562 shares.The stock last traded at $11.67 and had previously closed at $11.70.

Analyst Upgrades and Downgrades

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

Galp Energia SGPS Trading Up 0.9%

The firm has a market capitalization of $16.02 billion, a PE ratio of 23.60 and a beta of -0.06. The firm has a 50 day simple moving average of $11.64 and a 200 day simple moving average of $10.39. 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 posted its quarterly 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). Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%.The business had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Equities analysts expect 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.