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

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares saw unusually-strong trading volume on Thursday . 341,459 shares changed hands during mid-day trading, an increase of 264% from the previous session’s volume of 93,703 shares.The stock last traded at $12.49 and had previously closed at $12.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLPEY shares. Morgan Stanley restated an “overweight” rating on shares of Galp Energia SGPS in a report on Friday, September 4th. Zacks Research lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Galp Energia SGPS Stock Up 1.0%

The firm’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $11.48. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 14.63 and a beta of -0.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.20.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.26. The company had revenue of $8.02 billion for 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 30.13%. Sell-side analysts forecast that Galp Energia SGPS SA will post 1.21 earnings per share for the current fiscal year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portugal-based integrated energy company engaged in the exploration, production, refining, marketing and distribution of energy products. Through its upstream activities, Galp develops oil and natural gas resources, with operations and interests in areas including Brazil, Mozambique and Namibia.

The company also operates in downstream energy markets, supplying and marketing fuels, lubricants and other petroleum products. Its activities include refining, fuel distribution, retail service stations and the provision of energy solutions to business and household customers, primarily across Portugal and Spain.

Galp is expanding beyond traditional hydrocarbons through investments in renewable power generation, solar energy, electric-vehicle charging, low-carbon fuels and other energy-transition technologies.