Galp Energia SGPS (OTCMKTS:GLPEY) Sees Strong Trading Volume - Still a Buy?

Key Points

• Shares surged to 195,703 traded (a 200% increase from 65,126) and last traded at $11.50, down from the prior close of $11.75.
• Analyst sentiment is mixed — JPMorgan upgraded Galp to overweight while Morgan Stanley, Berenberg and HSBC cut ratings; MarketBeat's consensus remains a Moderate Buy.
• Galp beat quarterly EPS estimates ($0.14 vs. $0.12) on $5.50 billion in revenue and currently trades at a P/E of about 13.7 with a $17.3 billion market cap.

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) saw an uptick in trading volume on Thursday . 195,703 shares were traded during mid-day trading, an increase of 200% from the previous session's volume of 65,126 shares.The stock last traded at $11.50 and had previously closed at $11.75.

Analysts Set New Price Targets

Several brokerages recently commented on GLPEY. Morgan Stanley cut Galp Energia SGPS from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 24th. Jefferies Financial Group upgraded Galp Energia SGPS from a "moderate sell" rating to a "hold" rating in a report on Sunday. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a "neutral" rating to an "overweight" rating in a report on Tuesday, February 3rd. Berenberg Bank downgraded Galp Energia SGPS from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 11th. Finally, HSBC downgraded Galp Energia SGPS from a "buy" rating to a "hold" rating in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Galp Energia SGPS presently has an average rating of "Moderate Buy".

Galp Energia SGPS Stock Down 2.2%

The firm's 50 day moving average price is $11.24 and its two-hundred day moving average price is $10.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.35 and a current ratio of 1.68. The company has a market cap of $17.33 billion, a P/E ratio of 13.69 and a beta of -0.03.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last posted its quarterly earnings results on Monday, March 23rd. The energy company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Galp Energia SGPS had a return on equity of 21.29% and a net margin of 5.57%.The business had revenue of $5.50 billion for the quarter. Equities research analysts anticipate that Galp Energia SGPS SA will post 0.75 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.

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