Galp Energia SGPS (OTCMKTS:GLPEY) Reaches New 1-Year High – Should You Buy?

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s stock price hit a new 52-week high during mid-day trading 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.

Wall Street Analyst Weigh In

GLPEY has been the subject of a number of recent research reports. Jefferies Financial Group cut Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research report on Thursday, January 8th. Barclays upgraded shares of Galp Energia SGPS from an “equal weight” rating to an “overweight” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised shares of Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Morgan Stanley raised shares of Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Finally, Citigroup downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. 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 company. Based on data from MarketBeat, Galp Energia SGPS has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The company has a market cap of $16.22 billion, a PE ratio of 14.94 and a beta of 0.06. The stock’s 50 day simple moving average is $9.32 and its two-hundred day simple moving average is $9.54. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 0.60.

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.