Jefferies Financial Group Issues Positive Forecast for Sable Offshore (NYSE:SOC) Stock Price

Key Points

• Jefferies raised its target for Sable Offshore to $30 (from $28) and keeps a "buy" rating, implying roughly a 64.43% upside from the current price.
• Analyst coverage is mixed—three Buys, one Hold and two Sells—leaving a MarketBeat average rating of "Hold" and an average price target of $19.50.
• SOC traded at $18.25 (down 1.1%), has a 52‑week range of $3.72–$35.00 and a $2.69B market cap; it recently beat quarterly EPS estimates ($-0.39 vs. -0.59) despite analysts forecasting a negative FY EPS of -6.39.

Sable Offshore (NYSE:SOC - Get Free Report) had its target price hoisted by Jefferies Financial Group from $28.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 64.43% from the company's current price.

SOC has been the subject of several other research reports. Roth Mkm reaffirmed a "buy" rating on shares of Sable Offshore in a report on Wednesday, December 24th. Benchmark restated a "hold" rating on shares of Sable Offshore in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sable Offshore in a research note on Tuesday, January 27th. Finally, TD Cowen reiterated a "buy" rating on shares of Sable Offshore in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Sable Offshore has an average rating of "Hold" and an average price target of $19.50.

Sable Offshore Trading Down 1.1%

SOC traded down $0.21 during trading hours on Monday, hitting $18.25. The company's stock had a trading volume of 1,817,566 shares, compared to its average volume of 7,175,912. Sable Offshore has a fifty-two week low of $3.72 and a fifty-two week high of $35.00. The firm has a market capitalization of $2.69 billion, a PE ratio of -4.35 and a beta of 0.43. The company has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $11.51.

Sable Offshore (NYSE:SOC - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.20. Research analysts expect that Sable Offshore will post -6.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sable Offshore

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in Sable Offshore by 36.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,448 shares of the company's stock worth $62,000 after buying an additional 650 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $761,000 after buying an additional 1,271 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Sable Offshore by 3.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 61,886 shares of the company's stock worth $559,000 after acquiring an additional 1,856 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Sable Offshore by 41.3% in the second 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, Bleakley Financial Group LLC raised its holdings in shares of Sable Offshore by 4.4% during the third quarter. Bleakley Financial Group LLC now owns 50,949 shares of the company's stock valued at $890,000 after acquiring an additional 2,167 shares during the period. Institutional investors and hedge funds own 26.19% of the company's stock.

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.

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