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

Shares of Sable Offshore Corp. (NYSE:SOC) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.00.

A number of research firms have commented on SOC. Benchmark restated a “buy” rating on shares of Sable Offshore in a research report on Thursday, January 8th. Jefferies Financial Group reiterated a “buy” rating on shares of Sable Offshore in a research note on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Sable Offshore in a research report on Thursday, December 18th. Roth Mkm reaffirmed a “buy” rating on shares of Sable Offshore in a research note on Wednesday, December 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sable Offshore in a research note on Tuesday, January 27th.

Sable Offshore Stock Performance

Shares of SOC stock opened at $8.92 on Friday. Sable Offshore has a 1 year low of $3.72 and a 1 year high of $35.00. The firm has a market capitalization of $1.29 billion, a PE ratio of -2.73 and a beta of 0.41. The stock has a fifty day moving average of $8.95 and a two-hundred day moving average of $14.61.

Sable Offshore (NYSE:SOC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.21). Equities research analysts predict that Sable Offshore will post -6.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sable Offshore

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in Sable Offshore by 36.2% during the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock valued at $62,000 after purchasing an additional 650 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sable Offshore by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,991 shares of the company’s stock valued at $761,000 after buying an additional 1,271 shares in the last quarter. CWM LLC lifted its position in shares of 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 acquiring an additional 1,730 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Sable Offshore by 41.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,985 shares of the company’s stock worth $154,000 after acquiring an additional 2,041 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of Sable Offshore during the 2nd quarter worth $46,000. 26.19% of the stock is 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.