Regulator Help

So, I finally kegged a beer and got it all carbed up. I kept getting a lot of foam and I looked at the low side gauge on my regulator and it read 50 psi. I had it set to 8. So, I bled the pressure off and put it back at 8. I came back a little later and it was getting close to 50 again.

I disconnected from the keg and turned the shutoff valve off and turned the co2 tank on with the adjustment screw on the regulator backed out completely as to not increase low side pressure but the low side started creeping up.

Does this seem like a faulty regulator?

Sounds like the regulator is creeping and yes that is faulty not to mention a PITA.