Sable Offshore (NYSE:SOC) Sets New 12-Month Low at $10.11

Sable Offshore Corp. (NYSE:SOC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.11 and last traded at $10.15, with a volume of 7138 shares. The stock had previously closed at $10.34.

Analyst Upgrades and Downgrades

Separately, TD Cowen started coverage on Sable Offshore in a research report on Monday, February 26th. They issued an "outperform" rating and a $20.00 price target on the stock.

Sable Offshore Price Performance

The business has a fifty day moving average price of $11.47.

Insider Activity

In other news, Director Christopher Binyon Sarofim purchased 6,000,000 shares of the business's stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $60,000,000.00. Following the completion of the acquisition, the director now directly owns 3,000,000 shares in the company, valued at approximately $30,000,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President James Caldwell Flores bought 300,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average price of $10.00 per share, with a total value of $3,000,000.00. Following the completion of the transaction, the president now owns 371,875 shares in the company, valued at $3,718,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher Binyon Sarofim bought 6,000,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $60,000,000.00. Following the transaction, the director now owns 3,000,000 shares of the company's stock, valued at approximately $30,000,000. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company's stock.

Sable Offshore Company Profile

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. It operates through three platforms located offshore California and an onshore processing facility comprised of 16 federal leases across approximately 76,000 acres. The company was formerly known as Flame Acquisition Corp.