Galp Energia SGPS (OTCMKTS:GLPEY) Sets New 52-Week High – Should You Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.94 and last traded at $11.93, with a volume of 17154 shares changing hands. The stock had previously closed at $11.84.

Analyst Ratings Changes

Several analysts recently weighed in on GLPEY shares. Morgan Stanley upgraded Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research report on Tuesday, January 6th. Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. raised shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a report on Tuesday, February 3rd. Jefferies Financial Group downgraded shares of Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research note on Thursday, January 8th. Finally, Berenberg Bank cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Galp Energia SGPS has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The company has a current ratio of 1.68, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $10.18 and its 200-day simple moving average is $9.72. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 16.39 and a beta of 0.03.

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.