Galp Energia SGPS (OTCMKTS:GLPEY) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.99 and traded as high as $11.50. Galp Energia SGPS shares last traded at $11.4775, with a volume of 33,098 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Galp Energia SGPS Price Performance

The firm has a market cap of $15.59 billion, a P/E ratio of 13.35 and a beta of -0.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.68 and a quick ratio of 1.38. The stock’s 50-day simple moving average is $10.99 and its two-hundred day simple moving average is $11.07.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $6.79 billion. Equities research analysts forecast that Galp Energia SGPS SA will post 1.21 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.