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

Galp Energia SGPS SA (OTCMKTS:GLPEY) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 4,624 shares, a decrease of 77.1% from the April 15th total of 20,225 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 101,636 shares, the days-to-cover ratio is currently 0.0 days.

Galp Energia SGPS Stock Down 1.3%

Shares of OTCMKTS GLPEY traded down $0.15 during midday trading on Wednesday, hitting $11.23. 9,661 shares of the company’s stock were exchanged, compared to its average volume of 62,319. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.68 and a quick ratio of 1.38. Galp Energia SGPS has a twelve month low of $7.64 and a twelve month high of $12.87. The company has a market cap of $15.24 billion, a PE ratio of 22.45 and a beta of -0.06. The firm’s fifty day simple moving average is $11.62 and its 200-day simple moving average is $10.35.

Galp Energia SGPS (OTCMKTS:GLPEY) last issued its earnings results on Monday, April 27th. The energy company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Galp Energia SGPS had a net margin of 3.20% and a return on equity of 20.23%. The company had revenue of $6.19 billion during the quarter, compared to analyst estimates of $5.73 billion. Research analysts predict that Galp Energia SGPS will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Galp Energia SGPS from a “neutral” rating to an “overweight” rating in a report on Tuesday, February 3rd. Zacks Research upgraded shares of Galp Energia SGPS from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. 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. Jefferies Financial Group raised shares of Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, HSBC lowered Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.