Galp Energia SGPS SA (OTCMKTS:GLPEY) Sees Significant Drop in Short Interest

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 18,437 shares, a decline of 66.7% from the October 15th total of 55,419 shares. Based on an average daily volume of 94,253 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BNP Paribas Exane downgraded Galp Energia SGPS to a “hold” rating in a report on Tuesday, October 27th. Barclays reiterated an “overweight” rating on shares of Galp Energia SGPS in a research note on Monday, October 5th. Zacks Research raised Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Morgan Stanley restated an “overweight” rating on shares of Galp Energia SGPS in a research report on Friday, September 4th. Finally, HSBC restated a “hold” rating on shares of Galp Energia SGPS in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Galp Energia SGPS has a consensus rating of “Moderate Buy”.

Galp Energia SGPS Stock Up 1.5%

Shares of OTCMKTS GLPEY opened at $10.59 on Friday. The company has a 50 day simple moving average of $12.09 and a 200 day simple moving average of $11.48. The firm has a market cap of $14.37 billion, a PE ratio of 9.40 and a beta of 0.07. Galp Energia SGPS has a 1 year low of $8.10 and a 1 year high of $13.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.20.

Galp Energia SGPS (OTCMKTS:GLPEY) last announced its quarterly earnings results on Monday, October 26th. The energy company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.36). Galp Energia SGPS had a net margin of 4.55% and a return on equity of 28.78%. The business had revenue of $9.06 billion during the quarter, compared to analyst estimates of $9.38 billion. On average, research analysts forecast that Galp Energia SGPS will post 1.53 EPS for the current year.

Galp Energia SGPS Company Profile

Galp Energia SGPS, S.A. is a Portuguese integrated energy company with activities spanning oil and natural gas exploration and production, refining, energy trading and retail sales. The company also supplies natural gas and electricity to residential and business customers. Galp was established in 1999 through the consolidation of Portugal’s oil and gas interests. Its operations are centered in Portugal and extend to international markets, including Brazil, where it has upstream oil and gas activities.