Sable Offshore's (SOC) Sell Rating Reaffirmed at BWS Financial

Sable Offshore (NYSE:SOC - Get Free Report)'s stock had its "sell" rating reaffirmed by investment analysts at BWS Financial in a note issued to investors on Tuesday,Benzinga reports. They presently have a $6.00 target price on the stock. BWS Financial's price target suggests a potential downside of 79.19% from the company's previous close. BWS Financial also issued estimates for Sable Offshore's FY2025 earnings at ($1.68) EPS.

Other equities research analysts have also recently issued reports about the stock. Benchmark restated a "buy" rating on shares of Sable Offshore in a research note on Tuesday, March 18th. Roth Mkm initiated coverage on shares of Sable Offshore in a research report on Thursday, March 27th. They issued a "buy" rating and a $30.00 price target on the stock. Finally, Roth Capital set a $30.00 price target on shares of Sable Offshore in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sable Offshore currently has an average rating of "Moderate Buy" and an average target price of $27.50.

Sable Offshore Trading Up 2.8%

Shares of NYSE SOC traded up $0.78 during midday trading on Tuesday, reaching $28.84. 1,982,757 shares of the company traded hands, compared to its average volume of 1,203,171. Sable Offshore has a 52 week low of $12.73 and a 52 week high of $32.33. The stock has a 50-day moving average price of $22.27 and a 200 day moving average price of $23.42. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Sable Offshore (NYSE:SOC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.63). The company had revenue of $78.00 million for the quarter, compared to analyst estimates of $21.00 million. As a group, sell-side analysts anticipate that Sable Offshore will post -6.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of Sable Offshore stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $25.37, for a total transaction of $3,648,358.22. Following the transaction, the insider now owns 10,100,569 shares of the company's stock, valued at $256,251,435.53. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 14.30% of the company's stock.

Hedge Funds Weigh In On Sable Offshore

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Sable Offshore by 153.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock valued at $2,836,000 after purchasing an additional 72,694 shares during the period. Americana Partners LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $309,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $354,000. Emerald Advisers LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $6,700,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $1,177,000. Institutional investors and hedge funds own 26.19% of the company's stock.

About Sable Offshore

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.