Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Down – Should You Sell?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $11.54, but opened at $11.00. Galp Energia SGPS shares last traded at $11.0125, with a volume of 8,836 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on GLPEY shares. Jefferies Financial Group upgraded Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Zacks Research downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Galp Energia SGPS currently has an average rating of “Hold”.

Galp Energia SGPS Stock Up 1.2%

The stock’s 50 day moving average is $10.96 and its 200 day moving average is $10.96. The company has a market capitalization of $15.07 billion, a PE ratio of 12.91 and a beta of -0.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.38 and a current ratio of 1.68.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.02 billion during the quarter, compared to analyst estimates of $6.79 billion. On average, sell-side analysts anticipate that Galp Energia SGPS SA will post 1.03 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.