Galp Energia SGPS (OTCMKTS:GLPEY) Shares Pass Below 50 Day Moving Average - Here's Why

Key Points

• Galp Energia SGPS shares fell below their 50-day moving average on Friday, trading as low as $11.07 versus the $11.59 average.
• Recent analyst sentiment has been mixed: several firms upgraded or downgraded the stock, but MarketBeat says the overall consensus remains a “Moderate Buy”.
• The company recently missed earnings per share estimates for the quarter, reporting $0.21 EPS versus $0.23 expected, even though revenue came in above forecasts at $6.19 billion.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.59 and traded as low as $11.07. Galp Energia SGPS shares last traded at $11.07, with a volume of 52,546 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HSBC downgraded Galp Energia SGPS from a "buy" rating to a "hold" rating in a research report on Friday, March 20th. Jefferies Financial Group upgraded Galp Energia SGPS from a "moderate sell" rating to a "hold" rating in a research report on Sunday, April 5th. Morgan Stanley cut Galp Energia SGPS from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 24th. Zacks Research raised Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. raised Galp Energia SGPS from a "neutral" rating to an "overweight" rating in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Galp Energia SGPS Stock Performance

The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 0.59. The company has a market cap of $15.03 billion, a PE ratio of 22.14 and a beta of -0.06. The stock's 50 day simple moving average is $11.59 and its two-hundred day simple moving average is $10.31.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last issued its earnings results on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.02). Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. The business had revenue of $6.19 billion during the quarter, compared to analysts' expectations of $5.73 billion. As a group, research analysts anticipate that Galp Energia SGPS SA will post 1 earnings per share 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.

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