Galp Energia SGPS (OTCMKTS:GLPEY) Sees Unusually-High Trading Volume – Still a Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw strong trading volume on Tuesday . 116,021 shares changed hands during trading, an increase of 85% from the previous session’s volume of 62,562 shares.The stock last traded at $11.67 and had previously closed at $11.70.

Analysts Set New Price Targets

GLPEY has been the topic of a number of recent analyst reports. HSBC lowered Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 3rd. Zacks Research upgraded Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Jefferies Financial Group upgraded shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Finally, Morgan Stanley lowered shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 24th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Down 0.1%

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 firm has a market capitalization of $15.74 billion, a PE ratio of 23.18 and a beta of -0.06. The firm has a 50-day moving average of $11.65 and a two-hundred day moving average of $10.41.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%. On average, equities research analysts forecast that Galp Energia SGPS SA will post 1 EPS 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.