Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Decreases By 64.4%

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 124,295 shares, a decrease of 64.4% from the June 30th total of 349,475 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 205,399 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GLPEY shares. Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Zacks Research cut Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley upgraded Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a research note 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, Galp Energia SGPS presently has an average rating of “Hold”.

Galp Energia SGPS Price Performance

Galp Energia SGPS stock opened at $11.10 on Wednesday. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 12.91 and a beta of -0.07. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.59. Galp Energia SGPS has a 12 month low of $8.10 and a 12 month high of $12.87. The stock’s 50 day moving average is $10.96 and its 200-day moving average is $10.96.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings results on Monday, July 27th. The energy company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.26. The business had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Galp Energia SGPS had a return on equity of 30.83% and a net margin of 5.43%. Equities research analysts expect that Galp Energia SGPS will post 1.03 EPS for the current year.

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.