Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Decreases By 53.3%

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 32,416 shares, a drop of 53.3% from the August 15th total of 69,471 shares. Based on an average daily volume of 61,422 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Analyst Ratings Changes

GLPEY has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Galp Energia SGPS in a research report on Friday, September 4th. Zacks Research cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Galp Energia SGPS Stock Performance

Shares of GLPEY traded down $0.04 during midday trading on Wednesday, reaching $12.57. 24,509 shares of the stock were exchanged, compared to its average volume of 94,013. The stock’s 50 day simple moving average is $11.77 and its 200 day simple moving average is $11.47. The company has a market cap of $17.07 billion, a P/E ratio of 14.62 and a beta of -0.05. Galp Energia SGPS has a twelve month low of $8.10 and a twelve month high of $12.87. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.54.

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

About Galp Energia SGPS

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.