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

Key Points

• Galp Energia shares opened lower at $12.1615 versus a prior close of $12.57, though trading volume was very light at 262 shares.
• Analyst sentiment is cautious: Zacks Research downgraded the stock to “Hold,” and the broader analyst consensus is also “Hold,” with three Buy and six Hold ratings.
• The company recently exceeded quarterly expectations, reporting $0.60 in EPS versus a $0.34 estimate and $8.02 billion in revenue versus a $6.79 billion consensus forecast.

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $12.57, but opened at $12.1615. Galp Energia SGPS shares last traded at $12.1615, with a volume of 262 shares.

Analyst Upgrades and Downgrades

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

Galp Energia SGPS Price Performance

The business's fifty day moving average price is $11.48 and its 200 day moving average price is $11.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.38. The stock has a market cap of $16.53 billion, a P/E ratio of 14.16 and a beta of -0.05.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.34 by $0.26. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $6.79 billion. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. Sell-side analysts forecast that Galp Energia SGPS SA will post 1.21 EPS for the current fiscal 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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