Galp Energia SGPS (OTCMKTS:GLPEY) Hits New 12-Month High – Here’s What Happened

Galp Energia SGPS SA (OTCMKTS:GLPEY)’s share price reached a new 52-week high on Monday . The stock traded as high as $11.39 and last traded at $11.3830, with a volume of 5174 shares changing hands. The stock had previously closed at $10.71.

Wall Street Analysts Forecast Growth

GLPEY has been the topic of a number of analyst reports. Berenberg Bank lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Morgan Stanley upgraded shares of Galp Energia SGPS from an “underweight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Jefferies Financial Group downgraded shares of Galp Energia SGPS from a “hold” rating to a “moderate sell” rating in a research report on Thursday, January 8th. Citigroup cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 3rd. Two 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Galp Energia SGPS Stock Performance

The stock has a market capitalization of $17.09 billion, a price-to-earnings ratio of 15.75 and a beta of 0.03. The stock’s 50 day moving average is $9.58 and its 200 day moving average is $9.58. The company has a current ratio of 1.68, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60.

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.