Galp Energia SGPS (OTCMKTS:GLPEY) Stock Passes Below 50-Day Moving Average – What’s Next?

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.59 and traded as low as $11.07. Galp Energia SGPS shares last traded at $11.07, with a volume of 52,546 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Zacks Research upgraded shares of Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Morgan Stanley lowered shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 24th. HSBC lowered shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. upgraded shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The firm has a market capitalization of $15.03 billion, a PE ratio of 22.14 and a beta of -0.06. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $11.59 and its two-hundred day simple moving average is $10.31.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $5.73 billion. Research analysts expect that Galp Energia SGPS SA will post 1 earnings per share 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.