Galp Energia SGPS (OTCMKTS:GLPEY) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Galp Energia shares moved above their 50-day moving average, reaching $12.0060 before last trading at $11.9440, compared with a 50-day average of $11.07.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and six rate it a Hold, resulting in a consensus “Hold” rating.
• Galp exceeded quarterly expectations, reporting $0.60 earnings per share versus a $0.34 estimate and revenue of $8.02 billion against expectations of $6.79 billion.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.07 and traded as high as $12.0060. Galp Energia SGPS shares last traded at $11.9440, with a volume of 26,357 shares.

Analysts Set New Price Targets

Several research firms have commented on GLPEY. Morgan Stanley raised Galp Energia SGPS from an "overweight" rating to an "overweight" rating in a research report on Friday, July 3rd. Zacks Research downgraded Galp Energia SGPS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Galp Energia SGPS Price Performance

The stock has a market cap of $16.22 billion, a PE ratio of 13.89 and a beta of -0.06. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $11.07 and its 200-day moving average is $11.16.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.26. The company had revenue of $8.02 billion during the quarter, compared to analysts' expectations of $6.79 billion. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.83%. As a group, sell-side analysts predict that Galp Energia SGPS SA will post 1.21 earnings per share for the current year.

Galp Energia SGPS Company Profile

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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