Sable Offshore (NYSE:SOC) Posts Quarterly Earnings Results, Misses Estimates By $0.79 EPS

Key Points

• Sable Offshore reported a quarterly loss of $0.42 per share, missing the $0.37 consensus estimate by $0.79. Revenue totaled $137.13 million, well below analysts’ expectations of $237.65 million.
• The stock rose $0.32 to $5.07, but remains sharply below its 52-week high of $29.86. Sable Offshore has a market capitalization of approximately $782.6 million and a negative price-to-earnings ratio.
• Analyst sentiment is mixed but leans cautious: the average rating is “Hold” with a $15.33 price target, while several firms recently lowered targets or downgraded the stock. Institutional investors and hedge funds own 26.19% of the company.

Sable Offshore (NYSE:SOC - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.79), FiscalAI reports. The company had revenue of $137.13 million for the quarter, compared to analysts' expectations of $237.65 million.

Sable Offshore Price Performance

Shares of Sable Offshore stock traded up $0.32 on Monday, hitting $5.07. The company had a trading volume of 6,447,452 shares, compared to its average volume of 7,403,709. The company has a market cap of $782.61 million, a PE ratio of -1.19 and a beta of -0.15. Sable Offshore has a 52 week low of $2.88 and a 52 week high of $29.86. The business has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $10.77.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Sable Offshore from $24.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Roth Capital cut their price objective on Sable Offshore from $22.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sable Offshore in a research report on Tuesday, July 21st. Zacks Research lowered Sable Offshore from a "hold" rating to a "strong sell" rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of Sable Offshore from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Sable Offshore presently has an average rating of "Hold" and an average price target of $15.33.

Hedge Funds Weigh In On Sable Offshore

Several hedge funds have recently made changes to their positions in SOC. NewEdge Advisors LLC raised its position in shares of Sable Offshore by 36.2% during the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company's stock worth $62,000 after purchasing an additional 650 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in shares of Sable Offshore by 263.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 5,230 shares of the company's stock worth $47,000 after purchasing an additional 3,790 shares during the period. Tower Research Capital LLC TRC increased its stake in Sable Offshore by 65.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company's stock valued at $165,000 after buying an additional 2,960 shares during the period. Williams Jones Wealth Management LLC. acquired a new position in Sable Offshore in the 4th quarter valued at approximately $90,000. Finally, Kestra Advisory Services LLC purchased a new stake in Sable Offshore in the 4th quarter worth approximately $97,000. 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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