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

Key Points

• Galp Energia SGPS SA experienced a 260.7% increase in short interest in August, rising from 11,700 shares to 42,200 shares, although currently only 0.0% of the company's shares are sold short.
• The energy company reported earnings of $0.24 per share for the last quarter, exceeding estimates by $0.08, while generating revenue of $5.77 billion compared to analyst expectations of $3.83 billion.
• Wall Street analysts have a strong buy rating for Galp Energia SGPS, with recent upgrades from firms like Sanford C. Bernstein and UBS Group, reflecting optimism about the company's future performance.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 42,200 shares, a growth of 260.7% from the August 15th total of 11,700 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 62,000 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 62,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the shares of the company are sold short.

Galp Energia SGPS Trading Up 1.3%

OTCMKTS:GLPEY traded up $0.12 during trading hours on Friday, hitting $9.39. The company had a trading volume of 15,163 shares, compared to its average volume of 78,851. The company has a market capitalization of $13.06 billion, a PE ratio of 13.23 and a beta of 0.37. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $8.62. Galp Energia SGPS has a 52 week low of $6.76 and a 52 week high of $9.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.64 and a quick ratio of 1.32.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its earnings results on Monday, July 21st. The energy company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.08. Galp Energia SGPS had a return on equity of 18.15% and a net margin of 4.79%.The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $3.83 billion. On average, equities research analysts predict that Galp Energia SGPS will post 0.75 EPS for the current fiscal year.

Galp Energia SGPS Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.0821 dividend. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 179.0%. Galp Energia SGPS's dividend payout ratio is presently 22.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GLPEY. Sanford C. Bernstein upgraded Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 17th. UBS Group upgraded Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Galp Energia SGPS presently has an average rating of "Strong Buy".

About Galp Energia SGPS

Galp Energia, SGPS, SA operates as an integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Industrial & Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, Namibia, and Angola.

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