Galp Energia SGPS (OTCMKTS:GLPEY) Shares Gap Up – Should You Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $12.05, but opened at $12.48. Galp Energia SGPS shares last traded at $12.53, with a volume of 1,310 shares changing hands.

Analysts Set New Price Targets

GLPEY has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Zacks Research downgraded shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Down 2.9%

The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $11.37. The firm has a market capitalization of $16.57 billion, a PE ratio of 14.19 and a beta of -0.05.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.26. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $6.79 billion. Galp Energia SGPS had a return on equity of 30.13% and a net margin of 5.43%. Analysts anticipate 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 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.