Roth Capital Has Negative View of Sable Offshore Q2 Earnings

Key Points

• Roth Capital trimmed its Q2 2027 EPS estimate to $0.41 (from $0.42) while maintaining a Buy rating and a $22.00 target, and forecasts Q3 EPS of $0.50 and FY2027 EPS of $1.85.
• Sable Offshore reported Q2 EPS of ($1.11), missing the analysts' consensus of ($0.90) by $0.21.
• Major shareholder Global Icav Pilgrim purchased 982,645 shares at $15.04, increasing its stake to 10.93 million shares (insiders own 36.36%), while analyst coverage is mixed with a MarketBeat average rating of Hold and an average target of $19.60.

Sable Offshore Corp. (NYSE:SOC - Free Report) - Roth Capital dropped their Q2 2027 earnings per share estimates for shares of Sable Offshore in a research report issued to clients and investors on Thursday, November 13th. Roth Capital analyst L. Mariani now forecasts that the company will post earnings of $0.41 per share for the quarter, down from their prior estimate of $0.42. Roth Capital currently has a "Buy" rating and a $22.00 target price on the stock. The consensus estimate for Sable Offshore's current full-year earnings is ($6.39) per share. Roth Capital also issued estimates for Sable Offshore's Q3 2027 earnings at $0.50 EPS and FY2027 earnings at $1.85 EPS.

Sable Offshore (NYSE:SOC - Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.21).

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Sable Offshore in a research note on Thursday, October 30th. Benchmark dropped their price target on shares of Sable Offshore from $47.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group reduced their price objective on shares of Sable Offshore from $38.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.60.

Sable Offshore Price Performance

NYSE SOC opened at $4.20 on Monday. The firm has a market capitalization of $417.44 million, a price-to-earnings ratio of -1.24 and a beta of 0.46. The company has a 50 day simple moving average of $15.82 and a 200-day simple moving average of $22.45. Sable Offshore has a 52-week low of $4.04 and a 52-week high of $35.00.

Insiders Place Their Bets

In related news, major shareholder Global Icav Pilgrim purchased 982,645 shares of the stock in a transaction on Wednesday, October 15th. The shares were purchased at an average cost of $15.04 per share, for a total transaction of $14,778,980.80. Following the completion of the transaction, the insider directly owned 10,933,394 shares of the company's stock, valued at approximately $164,438,245.76. The trade was a 9.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 36.36% of the company's stock.

Institutional Trading of Sable Offshore

Hedge funds have recently modified their holdings of the stock. Encompass Capital Advisors LLC lifted its stake in shares of Sable Offshore by 83.8% during the second quarter. Encompass Capital Advisors LLC now owns 4,952,023 shares of the company's stock valued at $108,845,000 after acquiring an additional 2,257,069 shares during the period. Capital International Investors acquired a new position in Sable Offshore during the 3rd quarter valued at about $31,499,000. Cooper Creek Partners Management LLC bought a new position in shares of Sable Offshore in the 2nd quarter valued at about $24,465,000. Bank of America Corp DE grew its position in shares of Sable Offshore by 329.8% during the 2nd quarter. Bank of America Corp DE now owns 1,124,427 shares of the company's stock worth $24,715,000 after buying an additional 862,810 shares during the period. Finally, Two Seas Capital LP acquired a new stake in shares of Sable Offshore during the 2nd quarter worth approximately $9,708,000. 26.19% of the stock is owned by institutional investors.

Sable Offshore Company Profile

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities.

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