Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Increases By 2,240.0%

Key Points

• Galp Energia SGPS experienced a staggering 2,240.0% increase in short interest in August, climbing from 500 shares to 11,700 shares.
• Research firms such as Sanford C. Bernstein and UBS Group upgraded Galp's stock rating to “strong-buy”, contributing to a consensus rating of "Strong Buy" among analysts.
• The company declared a dividend of $0.0821, with a notable yield of 179.0%, despite a recent net margin of 4.79% and a revenue report of $5.77 billion for the quarter.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) saw a large growth in short interest in August. As of August 15th, there was short interest totaling 11,700 shares, agrowthof2,240.0% from the July 31st total of 500 shares. Based on an average trading volume of 62,700 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 62,700 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

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

Galp Energia SGPS Stock Down 1.3%

Shares of Galp Energia SGPS stock traded down $0.13 on Friday, reaching $9.21. 29,605 shares of the company were exchanged, compared to its average volume of 27,119. Galp Energia SGPS has a one year low of $6.76 and a one year high of $9.90. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 12.98 and a beta of 0.37. The company has a current ratio of 1.64, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $9.49 and a 200 day moving average of $8.59.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The energy company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $5.77 billion for the quarter, compared to analysts' expectations of $3.83 billion. On average, equities research analysts forecast that Galp Energia SGPS will post 0.75 earnings per share for the current year.

Galp Energia SGPS Cuts Dividend

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

Galp Energia SGPS Company Profile

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.