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

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.41 and traded as high as $12.45. Galp Energia SGPS shares last traded at $12.34, with a volume of 75,132 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLPEY. Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research report on Friday, July 3rd. Zacks Research lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Performance

The stock’s 50-day moving average is $11.45 and its 200-day moving average is $11.36. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 14.26 and a beta of -0.06. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 0.54.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its quarterly earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.26. The firm 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 30.13% and a net margin of 5.43%. On average, analysts expect that Galp Energia SGPS SA will post 1.21 EPS 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.