Galp Energia SGPS (OTCMKTS:GLPEY) Reaches New 12-Month High – Time to Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $10.80 and last traded at $10.7865, with a volume of 1878 shares changing hands. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GLPEY shares. Santander cut shares of Galp Energia SGPS from an “outperform” rating to a “neutral” rating in a report on Tuesday, October 28th. Morgan Stanley upgraded Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Barclays raised Galp Energia SGPS from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 31st. Finally, Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Galp Energia SGPS presently has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The firm has a market cap of $16.22 billion, a P/E ratio of 14.95 and a beta of 0.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.35 and a current ratio of 1.68. The business’s 50-day simple moving average is $9.17 and its 200 day simple moving average is $9.51.

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.