Short Interest in Galp Energia SGPS SA (OTCMKTS:GLPEY) Declines 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) saw 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 presently 0.0 days. Currently,0.0% of the company's stock are short sold. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 46,700 shares, the short-interest ratio is presently 0.0 days.

Galp Energia SGPS Stock Performance

GLPEY traded down $0.12 during midday trading on Thursday, reaching $9.52. The company's stock had a trading volume of 23,028 shares, compared to its average volume of 84,534. The company has a fifty day simple moving average of $9.31 and a 200 day simple moving average of $8.44. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.47. Galp Energia SGPS has a twelve month low of $6.76 and a twelve month high of $10.80. The stock has a market cap of $13.24 billion, a P/E ratio of 13.41 and a beta of 0.36.

Galp Energia SGPS (OTCMKTS:GLPEY - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The energy company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.08. Galp Energia SGPS had a return on equity of 18.04% and a net margin of 4.79%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $3.83 billion. Research analysts expect that Galp Energia SGPS will post 0.75 earnings per share for the current year.

Galp Energia SGPS Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.0821 per share. This represents a dividend yield of 179.0%. The ex-dividend date is Friday, August 15th. Galp Energia SGPS's dividend payout ratio (DPR) is 23.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLPEY shares. UBS Group raised Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. Sanford C. Bernstein raised Galp Energia SGPS from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 17th. Four investment analysts have rated the stock with a strong buy rating, Based on data from MarketBeat.com, the stock 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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