Sable Offshore Corp. (NYSE:SOC) Receives Average Rating of “Hold” from Analysts

Shares of Sable Offshore Corp. (NYSE:SOC) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.60.

SOC has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating on shares of Sable Offshore in a research report on Thursday, January 8th. Cowen reiterated a “buy” rating on shares of Sable Offshore in a report on Thursday, December 18th. Jefferies Financial Group reissued a “buy” rating on shares of Sable Offshore in a research report on Monday, December 29th. Roth Capital reaffirmed a “buy” rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sable Offshore in a research note on Thursday, October 30th.

Sable Offshore Price Performance

SOC opened at $11.00 on Wednesday. The firm has a market capitalization of $1.59 billion, a PE ratio of -3.37 and a beta of 0.40. The business’s 50-day moving average is $7.32 and its two-hundred day moving average is $16.66. Sable Offshore has a 1 year low of $3.72 and a 1 year high of $35.00.

Sable Offshore (NYSE:SOC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.21). As a group, sell-side analysts expect that Sable Offshore will post -6.39 EPS for the current year.

Institutional Trading of Sable Offshore

A number of institutional investors have recently bought and sold shares of SOC. CWM LLC increased its stake in Sable Offshore by 1,262.8% during the 2nd quarter. CWM LLC now owns 1,867 shares of the company’s stock valued at $41,000 after purchasing an additional 1,730 shares in the last quarter. KBC Group NV purchased a new stake in shares of Sable Offshore during the second quarter valued at $46,000. NewEdge Advisors LLC increased its position in shares of Sable Offshore by 36.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock valued at $62,000 after acquiring an additional 650 shares during the period. Whittier Trust Co. acquired a new position in shares of Sable Offshore in the 3rd quarter valued at $115,000. Finally, MAI Capital Management purchased a new position in Sable Offshore in the 2nd quarter worth $123,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Sable Offshore Company Profile

Sable Offshore (NYSE:SOC) is an independent upstream oil and natural gas company specializing in offshore hydrocarbon exploration and production. The company identifies and secures exploration and development rights, conducts detailed seismic interpretation, and advances offshore prospects through appraisal and development phases. Its focus on the offshore environment drives investments in specialized drilling techniques, subsea infrastructure and production facility design.

Core business activities include offshore seismic surveys, the drilling of exploration and appraisal wells, installation and operation of production platforms or subsea systems, and well intervention services.