Galp Energia SGPS (OTCMKTS:GLPEY) Shares Down 0.4% - Time to Sell?

Key Points

• Shares of Galp Energia SGPS (OTCMKTS:GLPEY) fell by 0.4%, trading at $9.40 with a slight increase in trading volume during mid-day trading.
• The company received multiple upgrades to a "strong-buy" rating from analysts, indicating positive sentiment towards its performance.
• Galp Energia reported a quarterly earnings per share of $0.24, exceeding estimates, alongside announcing a dividend cut with a yield of 179.0% due later in September.

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) dropped 0.4% during mid-day trading on Tuesday . The company traded as low as $9.39 and last traded at $9.40. Approximately 28,559 shares traded hands during trading, an increase of 0% from the average daily volume of 28,488 shares. The stock had previously closed at $9.44.

Analyst Upgrades and Downgrades

GLPEY has been the topic of a number of research reports. UBS Group upgraded shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Sanford C. Bernstein upgraded shares of 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, Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

Galp Energia SGPS Price Performance

The company's fifty day moving average is $9.37 and its two-hundred day moving average is $8.47. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 13.24 and a beta of 0.36. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.47.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its quarterly earnings data 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. Galp Energia SGPS had a net margin of 4.79% and a return on equity of 18.04%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $3.83 billion. Equities research analysts anticipate 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 announced a dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a $0.0821 dividend. This represents a yield of 179.0%. The ex-dividend date of this dividend is Friday, August 15th. Galp Energia SGPS's dividend payout ratio is presently 22.54%.

About Galp Energia SGPS

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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