Galp Energia SGPS SA (OTCMKTS:GLPEY) Short Interest Down 56.7% in July

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 53,862 shares, a drop of 56.7% from the July 15th total of 124,295 shares. Based on an average daily trading volume, of 118,199 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Galp Energia SGPS Stock Up 1.0%

Shares of OTCMKTS:GLPEY traded up $0.12 during trading on Monday, hitting $12.06. 15,313 shares of the company’s stock traded hands, compared to its average volume of 101,586. 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 company has a 50-day moving average price of $11.07 and a 200-day moving average price of $11.17. Galp Energia SGPS has a 52 week low of $8.10 and a 52 week high of $12.87. The company has a market cap of $16.38 billion, a price-to-earnings ratio of 14.02 and a beta of -0.06.

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, beating the consensus estimate of $0.34 by $0.26. The company had revenue of $8.02 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Galp Energia SGPS had a net margin of 5.43% and a return on equity of 30.83%. As a group, research analysts forecast that Galp Energia SGPS will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

GLPEY has been the subject of a number of research analyst reports. Zacks Research lowered shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley raised Galp Energia SGPS from an “overweight” rating to an “overweight” rating in a report on Friday, July 3rd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, 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.