Galp Energia SGPS (OTCMKTS:GLPEY) Reaches New 12-Month High - Here's What Happened

Key Points

• Galp Energia SGPS has reached a new 12-month high, trading at $9.90, indicating strong investor interest with a volume of 13,340 shares.
• Analysts upgraded the stock from a "hold" to a "strong-buy" rating, with four analysts currently giving it a Strong Buy rating.
• In its last earnings report, Galp Energia posted earnings of $0.24 per share, significantly beating expectations and reporting revenue of $5.77 billion against a forecast of $3.83 billion.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $9.90 and last traded at $9.89, with a volume of 13340 shares changing hands. The stock had previously closed at $9.64.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein upgraded Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 17th. Four analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of "Strong Buy".

Galp Energia SGPS Stock Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.64 and a quick ratio of 1.32. The firm's 50-day moving average price is $9.49 and its 200-day moving average price is $8.78. The stock has a market cap of $13.73 billion, a P/E ratio of 13.90 and a beta of 0.30.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last posted its earnings results on Monday, July 21st. The energy company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.08. The company had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $3.83 billion. Galp Energia SGPS had a net margin of 4.79% and a return on equity of 18.15%. Sell-side analysts expect that Galp Energia SGPS SA will post 0.75 earnings per share for the current fiscal year.

Galp Energia SGPS Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.0821 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 179.0%. Galp Energia SGPS's dividend payout ratio is presently 22.54%.

Galp Energia SGPS Company Profile

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.

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