Sable Offshore (NYSE:SOC) Shares Down 5.6% - Here's Why

Key Points

• Shares fell 5.6% to $8.046 on Tuesday (intraday low $8.06) on light volume — 976,180 shares vs. an average of 7.47M — and sit below the 50‑day ($8.68) and well under the 200‑day ($15.09) moving averages.
• Analysts are mixed but skew positive: the consensus rating is "Moderate Buy" with a $17.00 average target, while individual recommendations range from Strong Buy to Sell.
• Company fundamentals show continued losses — last quarter EPS was ($1.11) (miss) and FY estimates are around ($6.39) — the firm has a market cap near $1.18B, and large institutions (including Vanguard) have recently increased positions.

Sable Offshore Corp. (NYSE:SOC - Get Free Report)'s share price fell 5.6% during trading on Tuesday . The stock traded as low as $8.06 and last traded at $8.0460. 976,180 shares traded hands during trading, a decline of 87% from the average session volume of 7,468,769 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

A number of research firms have issued reports on SOC. Jefferies Financial Group restated a "buy" rating on shares of Sable Offshore in a report on Monday, December 29th. Benchmark reissued a "buy" rating on shares of Sable Offshore in a research note on Thursday, January 8th. Roth Mkm restated a "buy" rating on shares of Sable Offshore in a report on Wednesday, December 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sable Offshore in a report on Tuesday, January 27th. Finally, TD Cowen upgraded Sable Offshore to a "strong-buy" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Sable Offshore has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Sable Offshore Price Performance

The company has a market cap of $1.18 billion, a P/E ratio of -2.52 and a beta of 0.40. The stock has a fifty day moving average price of $8.68 and a two-hundred day moving average price of $15.09.

Sable Offshore (NYSE:SOC - Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.21). Equities analysts predict that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sable Offshore

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Sable Offshore by 64.9% in the fourth quarter. Vanguard Group Inc. now owns 7,557,670 shares of the company's stock valued at $68,170,000 after acquiring an additional 2,975,712 shares during the last quarter. Encompass Capital Advisors LLC lifted its stake in Sable Offshore by 83.8% in the second quarter. Encompass Capital Advisors LLC now owns 4,952,023 shares of the company's stock valued at $108,845,000 after purchasing an additional 2,257,069 shares during the last quarter. State Street Corp increased its position in Sable Offshore by 16.1% in the second quarter. State Street Corp now owns 3,035,292 shares of the company's stock worth $66,716,000 after buying an additional 420,433 shares during the last quarter. Geode Capital Management LLC increased its position in Sable Offshore by 28.6% in the fourth quarter. Geode Capital Management LLC now owns 2,294,121 shares of the company's stock worth $20,699,000 after buying an additional 510,188 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Sable Offshore in the third quarter valued at $31,499,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Company Profile

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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