Galp Energia SGPS (OTCMKTS:GLPEY) Hits New 12-Month High – Still a Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $11.5750 and last traded at $11.4901, with a volume of 4084 shares. The stock had previously closed at $11.48.

Wall Street Analysts Forecast Growth

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

Galp Energia SGPS Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.35. The company’s fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $9.67. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 15.99 and a beta of 0.03.

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.