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

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

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its holdings in Sable Offshore by 1,262.8% in the second 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 2nd quarter worth approximately $46,000. NewEdge Advisors LLC boosted its holdings 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 buying an additional 650 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Sable Offshore in the 4th quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Sable Offshore by 263.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,230 shares of the company’s stock valued at $47,000 after buying an additional 3,790 shares during the last quarter. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Sable Offshore Price Performance

SOC opened at $8.93 on Friday. The business has a fifty day moving average price of $9.20 and a 200 day moving average price of $14.12. Sable Offshore has a 12 month low of $3.72 and a 12 month high of $35.00. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.74 and a beta of 0.41.

About Sable Offshore

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.