Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Decreases By 98.3%

Key Points

• Short interest in Galp Energia SGPS SA has significantly dropped by 98.3%, from 29,700 shares to just 500 shares by July 31st, resulting in a short-interest ratio of 0.0 days.
• Galp Energia reported strong earnings with an EPS of $0.24, surpassing analysts' expectations of $0.16, while also achieving revenue of $5.77 billion for the quarter.
• The company's stock was upgraded to a "strong-buy" rating by multiple analysts, reflecting a positive outlook with the stock currently rated as "Strong Buy" by MarketBeat.

Galp Energia SGPS SA (OTCMKTS:GLPEY - Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 500 shares, adecreaseof98.3% from the July 15th total of 29,700 shares. Based on an average daily volume of 46,700 shares, the short-interest ratio is currently 0.0 days. Currently,0.0% of the shares of the stock are sold short. Currently,0.0% of the shares of the stock are sold short. Based on an average daily volume of 46,700 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upgraded shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Sanford C. Bernstein upgraded shares of Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 17th. Four research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Galp Energia SGPS Price Performance

OTCMKTS GLPEY traded down $0.04 during trading hours on Tuesday, hitting $9.40. 28,559 shares of the company's stock traded hands, compared to its average volume of 28,488. Galp Energia SGPS has a 52-week low of $6.76 and a 52-week high of $10.7887. The company has a market capitalization of $13.07 billion, a PE ratio of 13.24 and a beta of 0.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.54 and a quick ratio of 1.20. The firm's 50-day moving average is $9.37 and its 200-day moving average is $8.47.

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, beating the consensus estimate of $0.16 by $0.08. Galp Energia SGPS had a net margin of 4.79% and a return on equity of 18.04%. The company had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $3.83 billion. Equities analysts forecast that Galp Energia SGPS will post 0.75 EPS for the current fiscal year.

Galp Energia SGPS Cuts Dividend

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

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.