Galp Energia SGPS (OTCMKTS:GLPEY) Share Price Crosses Above 200 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLPEY. Barclays reiterated an “overweight” rating on shares of Galp Energia SGPS in a research report on Monday, October 5th. Zacks Research raised shares of Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Citigroup restated a “neutral” rating on shares of Galp Energia SGPS in a research note on Tuesday, October 13th. HSBC reaffirmed a “hold” rating on shares of Galp Energia SGPS in a report on Friday, September 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Galp Energia SGPS in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The company has a 50 day simple moving average of $12.37 and a 200-day simple moving average of $11.41. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.20. The stock has a market cap of $15.75 billion and a P/E ratio of 10.38.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its quarterly earnings results on Monday, October 26th. The energy company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.36). The firm had revenue of $9.06 billion during the quarter, compared to the consensus estimate of $9.38 billion. Galp Energia SGPS had a return on equity of 28.78% and a net margin of 4.55%. On average, equities analysts expect that Galp Energia SGPS SA will post 1.53 earnings per share 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.