Galp Energia SGPS (OTCMKTS:GLPEY) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Galp Energia shares rose 1.5% and crossed above their 200-day moving average of $11.39, trading as high as $11.54 on volume of 40,862 shares.
• Analyst sentiment is broadly positive, with an average “Moderate Buy” rating. Zacks upgraded the stock to “Strong Buy,” while Barclays and Morgan Stanley maintained “Overweight” ratings; other firms issued “Hold” or “Neutral” views.
• Galp’s latest quarterly results fell short of expectations: adjusted earnings were $0.16 per share versus the $0.52 consensus estimate, while revenue reached $9.06 billion compared with forecasts of $9.38 billion.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $11.39 and traded as high as $11.54. Galp Energia SGPS shares last traded at $11.54, with a volume of 40,862 shares trading hands.

Analyst Upgrades and Downgrades

GLPEY has been the subject of several analyst reports. Zacks Research upgraded shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Barclays reissued an "overweight" rating on shares of Galp Energia SGPS in a research note on Monday, October 5th. BNP Paribas Exane lowered shares of Galp Energia SGPS to a "hold" rating in a report on Tuesday. Citigroup restated a "neutral" rating on shares of Galp Energia SGPS in a report on Tuesday, October 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Galp Energia SGPS in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Galp Energia SGPS presently has an average rating of "Moderate Buy".

Galp Energia SGPS Stock Up 1.5%

The business has a fifty day moving average of $12.41 and a 200 day moving average of $11.39. The firm has a market cap of $15.67 billion and a P/E ratio of 14.25. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.54.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last released its earnings results on Monday, October 26th. The energy company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.36). Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. The company had revenue of $9.06 billion during the quarter, compared to analyst estimates of $9.38 billion. On average, equities research analysts predict that Galp Energia SGPS SA will post 1.45 EPS for the current year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portuguese integrated energy company with activities spanning exploration and production, refining, trading, and the distribution and sale of energy products. The company supplies fuels, natural gas, electricity, lubricants, and other energy-related products to retail, commercial, and industrial customers.

Galp's upstream business focuses on the exploration, development, and production of crude oil and natural gas, with a significant presence in Brazil and interests in other international projects.

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