Sable Offshore (NYSE:SOC) Shares Down 7.9% - Here's What Happened

Key Points

• Sable Offshore shares dropped 7.9% on Monday, trading as low as $5.66 on thin volume (~391,655 shares) and sitting well below its 50‑day ($9.09) and 200‑day ($19.34) moving averages; market cap is about $773M.
• The company reported a quarterly loss of ($1.11) per share, missing estimates by $0.21, and sell‑side analysts forecast a full‑year EPS of -6.39, underscoring continued negative profitability (P/E -1.64).
• Analyst sentiment is mixed—five Buys and two Sells with a consensus "Hold" and a $19.60 target after recent price‑target cuts—while major shareholder Global Icav Pilgrim bought 982,645 shares and insiders now own 36.36% of the stock.

Sable Offshore Corp. (NYSE:SOC - Get Free Report) shares were down 7.9% during trading on Monday . The company traded as low as $5.66 and last traded at $5.6750. Approximately 391,655 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,454,205 shares. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Roth Capital reissued a "buy" rating on shares of Sable Offshore in a research note on Monday, December 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Sable Offshore in a research report on Thursday, October 30th. Benchmark dropped their price objective on Sable Offshore from $47.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 4th. Finally, Jefferies Financial Group cut their target price on shares of Sable Offshore from $38.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.60.

Sable Offshore Stock Down 13.4%

The stock has a market cap of $773.36 million, a P/E ratio of -1.64 and a beta of 0.51. The stock has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $19.34.

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

Insiders Place Their Bets

In other news, major shareholder Global Icav Pilgrim purchased 982,645 shares of Sable Offshore stock in a transaction dated Wednesday, October 15th. The shares were bought at an average cost of $15.04 per share, with a total value of $14,778,980.80. Following the completion of the transaction, the insider directly owned 10,933,394 shares in the company, valued at $164,438,245.76. This trade represents a 9.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 36.36% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC increased its holdings in shares of Sable Offshore by 380.3% in the third quarter. FNY Investment Advisers LLC now owns 88,490 shares of the company's stock worth $1,545,000 after acquiring an additional 70,068 shares in the last quarter. Penn Capital Management Company LLC lifted its holdings in shares of Sable Offshore by 24.2% during the 3rd quarter. Penn Capital Management Company LLC now owns 37,130 shares of the company's stock valued at $648,000 after purchasing an additional 7,232 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Sable Offshore by 2,673.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,711 shares of the company's stock valued at $135,000 after purchasing an additional 7,433 shares during the period. GM Advisory Group LLC increased its stake in Sable Offshore by 1.0% during the 3rd quarter. GM Advisory Group LLC now owns 1,023,149 shares of the company's stock worth $17,864,000 after purchasing an additional 9,794 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Sable Offshore by 846.7% during the 3rd quarter. NewEdge Advisors LLC now owns 23,176 shares of the company's stock worth $405,000 after buying an additional 20,728 shares during the period. 26.19% of the stock is currently 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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