Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Drops By 56.7%

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 53,862 shares, a decrease of 56.7% from the July 15th total of 124,295 shares. Based on an average daily volume of 118,199 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the company’s shares are sold short.

Galp Energia SGPS Stock Performance

Shares of GLPEY stock opened at $11.94 on Friday. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 13.89 and a beta of -0.06. Galp Energia SGPS has a 1-year low of $8.10 and a 1-year high of $12.87. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $11.07 and its 200-day simple moving average is $11.16.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its quarterly earnings data on Monday, July 27th. The energy company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.26. Galp Energia SGPS had a return on equity of 30.83% and a net margin of 5.43%.The firm had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $6.79 billion. On average, sell-side analysts predict that Galp Energia SGPS will post 1.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on GLPEY. Zacks Research downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley raised shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

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.