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

Shares of Sable Offshore Corp. (NYSE:SOC) have received an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.00.

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

Institutional Trading of Sable Offshore

A number of large investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Sable Offshore during the 4th quarter worth $37,000. CWM LLC grew 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 worth $41,000 after buying an additional 1,730 shares in the last quarter. KBC Group NV purchased a new position in shares of Sable Offshore during the second quarter valued at $46,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Sable Offshore by 263.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 5,230 shares of the company’s stock valued at $47,000 after acquiring an additional 3,790 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Sable Offshore by 36.2% in the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock worth $62,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Sable Offshore Price Performance

Shares of NYSE SOC 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 50-day simple moving average of $9.26 and a two-hundred day simple moving average of $13.86. The company has a market cap of $1.29 billion, a P/E ratio of -2.73 and a beta of 0.41.

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.