Galp Energia SGPS (OTCMKTS:GLPEY) Shares Down 3.2% - What's Next?

Key Points

• Galp Energia SGPS shares fell by 3.2%, with the price last traded at $9.58, amidst a significant increase in trading volume compared to average sessions.
• Sanford C. Bernstein upgraded the company from a "hold" to a "strong-buy" rating, contributing to a favorable average analyst rating of "Strong Buy" from four research analysts.
• Galp Energia recently declared a dividend yielding 179.0%, with 22.54% of earnings allocated for dividend payments, following their quarterly earnings report showing revenues of $5.77 billion.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report)'s share price traded down 3.2% on Wednesday . The company traded as low as $9.53 and last traded at $9.58. Approximately 49,332 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 33,067 shares. The stock had previously closed at $9.90.

Wall Street Analyst Weigh In

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

Galp Energia SGPS Stock Performance

The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 13.50 and a beta of 0.30. The stock has a fifty day moving average price of $9.50 and a two-hundred day moving average price of $8.81. The company has a quick ratio of 1.32, a current ratio of 1.64 and a debt-to-equity ratio of 0.59.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The energy company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.08. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $3.83 billion. Galp Energia SGPS had a return on equity of 18.15% and a net margin of 4.79%. As a group, analysts forecast that Galp Energia SGPS SA will post 0.75 EPS for the current fiscal year.

Galp Energia SGPS Cuts Dividend

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