Galp Energia SGPS SA (OTCMKTS:GLPEY) Short Interest Down 37.5% in May

Galp Energia SGPS SA (OTCMKTS:GLPEY) saw a significant drop in short interest in the month of 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. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 649,579 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HSBC cut Galp Energia SGPS from a “buy” rating to a “hold” rating in a research report on Friday, March 20th. Morgan Stanley cut Galp Energia SGPS from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 24th. Jefferies Financial Group raised Galp Energia SGPS from a “moderate sell” rating to a “hold” rating in a research report on Sunday, April 5th. Finally, Zacks Research lowered Galp Energia SGPS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Galp Energia SGPS Stock Performance

Shares of OTCMKTS GLPEY traded up $0.08 during mid-day trading on Wednesday, hitting $10.74. The stock had a trading volume of 2,892 shares, compared to its average volume of 87,382. The firm has a market cap of $14.58 billion, a PE ratio of 21.48 and a beta of -0.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.38 and a current ratio of 1.68. The company has a 50 day moving average of $11.28 and a two-hundred day moving average of $10.52. Galp Energia SGPS has a twelve month low of $8.10 and a twelve month high of $12.87.

Galp Energia SGPS (OTCMKTS:GLPEY) last posted its quarterly earnings results on Monday, April 27th. The energy company reported $0.21 earnings per share 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 firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Research analysts predict that Galp Energia SGPS will post 1 EPS for the current fiscal 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.