Galp Energia, SGPS, S.A. (OTCMKTS:GLPEY) Sees Significant Increase in Short Interest

Galp Energia, SGPS, S.A. (OTCMKTS:GLPEY) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 13,000 shares, an increase of 282.4% from the August 15th total of 3,400 shares. Based on an average trading volume of 377,600 shares, the days-to-cover ratio is presently 0.0 days.

A number of analysts have recently commented on the company. Royal Bank of Canada cut Galp Energia, SGPS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, June 22nd. Morgan Stanley restated an “equal weight” rating on shares of Galp Energia, SGPS in a research report on Friday, August 6th. JPMorgan Chase & Co. cut shares of Galp Energia, SGPS from a “neutral” rating to an “underweight” rating in a research note on Friday. Zacks Investment Research cut Galp Energia, SGPS from a “hold” rating to a “sell” rating in a research report on Wednesday, August 25th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Galp Energia, SGPS in a research report on Friday, June 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from, Galp Energia, SGPS has a consensus rating of “Hold” and an average price target of $7.90.

OTCMKTS:GLPEY traded up $0.04 on Friday, reaching $4.92. The stock had a trading volume of 1,068,649 shares, compared to its average volume of 103,693. Galp Energia, SGPS has a 12-month low of $3.79 and a 12-month high of $6.60. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 82.00 and a beta of 1.05. The firm’s fifty day moving average is $4.95 and its two-hundred day moving average is $5.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.89 and a quick ratio of 1.53.

Galp Energia, SGPS (OTCMKTS:GLPEY) last released its earnings results on Monday, July 26th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The company had revenue of $4.45 billion during the quarter. Galp Energia, SGPS had a net margin of 0.76% and a negative return on equity of 0.48%. As a group, research analysts forecast that Galp Energia, SGPS will post 0.34 earnings per share for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be paid a $0.094 dividend. The ex-dividend date is Tuesday, September 14th. Galp Energia, SGPS’s dividend payout ratio (DPR) is -633.33%.

About Galp Energia, SGPS

Galp Energia SGPS SA engages in the exploration and production of oil and gas. It operates through the following segments: Upstream; Refining and Midstream; Commercial; and Renewables and New Businesses. The Upstream segment includes exploration, development, and production of hydrocarbons, mainly focused on Brazil, Mozambique, and Angola.

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