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

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

Galp Energia SGPS Price Performance

Shares of OTCMKTS:GLPEY opened at $11.54 on Monday. The firm has a market capitalization of $15.67 billion, a PE ratio of 23.08 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 1-year low of $8.10 and a 1-year high of $12.87. The business’s 50 day moving average is $10.99 and its 200-day moving average is $10.92.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its earnings results on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $6.19 billion during the quarter, compared to analyst estimates of $5.73 billion. Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. Sell-side analysts predict that Galp Energia SGPS will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Zacks Research downgraded Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a report on Sunday, April 5th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.

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.