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

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw an uptick in trading volume on Wednesday . Approximately 316,228 shares were traded during mid-day trading, an increase of 251% from the previous session’s volume of 90,191 shares.The stock last traded at $10.3860 and had previously closed at $10.61.

Analyst Ratings Changes

A number of equities research analysts recently commented on GLPEY shares. HSBC lowered Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Zacks Research downgraded shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley lowered shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Down 2.0%

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 $14.12 billion, a PE ratio of 20.80 and a beta of -0.08. The business has a 50 day moving average price of $11.16 and a 200 day moving average price of $10.54.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced 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 net margin of 3.20% and a return on equity of 20.23%. The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Equities research analysts expect that Galp Energia SGPS SA will post 1 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.