Galp Energia SGPS (OTCMKTS:GLPEY) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.07 and traded as high as $12.0060. Galp Energia SGPS shares last traded at $11.9440, with a volume of 26,357 shares trading hands.

Analyst Upgrades and Downgrades

GLPEY has been the topic of several analyst reports. Morgan Stanley upgraded shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note on Friday, July 3rd. Zacks Research downgraded shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Galp Energia SGPS has a consensus rating of “Hold”.

Galp Energia SGPS Price Performance

The firm has a 50 day moving average price of $11.07 and a 200 day moving average price of $11.16. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59. The stock has a market cap of $16.22 billion, a P/E ratio of 13.89 and a beta of -0.06.

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

About Galp Energia SGPS

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.