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

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $11.39, but opened at $10.96. Galp Energia SGPS shares last traded at $10.96, with a volume of 1,221 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GLPEY. JPMorgan Chase & Co. upgraded shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. HSBC downgraded shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Morgan Stanley downgraded shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Galp Energia SGPS currently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

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 company’s fifty day simple moving average is $11.46 and its two-hundred day simple moving average is $10.17. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 13.24 and a beta of -0.03.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, March 23rd. The energy company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Galp Energia SGPS had a net margin of 5.57% and a return on equity of 21.32%. The firm had revenue of $5.50 billion for the quarter. On average, analysts forecast that Galp Energia SGPS SA will post 1 earnings per share for the current 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.