Galp Energia SGPS (OTCMKTS:GLPEY) Hits New 52-Week High – Here’s What Happened

Shares of Galp Energia SGPS SA (OTCMKTS:GLPEY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.99 and last traded at $12.99, with a volume of 281 shares trading hands. The stock had previously closed at $12.3650.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reaffirmed an “overweight” rating on shares of Galp Energia SGPS in a research note on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Galp Energia SGPS Price Performance

The company’s fifty day moving average price is $11.92 and its two-hundred day moving average price is $11.53. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 15.21 and a beta of -0.05.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.26. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $6.79 billion. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.13%. On average, equities research analysts forecast that Galp Energia SGPS SA will post 1.21 EPS for the current fiscal year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, SA is a Portugal-based integrated energy company engaged in the exploration, production, refining, marketing and distribution of energy products. Through its upstream activities, Galp develops oil and natural gas resources, with operations and interests in areas including Brazil, Mozambique and Namibia.

The company also operates in downstream energy markets, supplying and marketing fuels, lubricants and other petroleum products. Its activities include refining, fuel distribution, retail service stations and the provision of energy solutions to business and household customers, primarily across Portugal and Spain.

Galp is expanding beyond traditional hydrocarbons through investments in renewable power generation, solar energy, electric-vehicle charging, low-carbon fuels and other energy-transition technologies.