Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Drops By 37.5%

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 13,426 shares, a drop of 37.5% from the May 14th total of 21,489 shares. Based on an average daily trading volume, of 649,579 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

GLPEY has been the subject of several analyst reports. HSBC cut shares of Galp Energia SGPS from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. Jefferies Financial Group raised shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research note on Sunday, April 5th. Morgan Stanley cut shares of Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 24th. Finally, Zacks Research cut shares of Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Galp Energia SGPS currently has an average rating of “Hold”.

Galp Energia SGPS Stock Performance

GLPEY stock traded up $0.02 during midday trading on Tuesday, reaching $10.67. 65,907 shares of the company were exchanged, compared to its average volume of 87,942. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.68 and a quick ratio of 1.38. The business has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $10.52. Galp Energia SGPS has a one year low of $8.10 and a one year high of $12.87. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 21.34 and a beta of -0.08.

Galp Energia SGPS (OTCMKTS:GLPEY) last released its quarterly earnings data on Monday, April 27th. The energy company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Galp Energia SGPS had a return on equity of 20.23% and a net margin of 3.20%.The company had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $5.73 billion. Equities research analysts forecast that Galp Energia SGPS will post 1 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.