Key Points
- Insider Anthony Duenner sold 279,081 shares on March 31 at an average price of $16.69 for proceeds of about $4.66 million, reducing his stake by 37.21% to 470,919 shares.
- Sable Offshore shares trade around $15.36 with a market cap of $2.26 billion and a 52‑week range of $3.72–$35.00; the company beat quarterly EPS estimates with (‑$0.39) but analysts project a full‑year EPS of ‑6.39 and a consensus "Hold" rating with a $19.50 target.
- Several large institutions materially increased positions in Q4 — including Alyeska, Capital International, Encompass and Vanguard — leaving institutional investors with about 26.19% ownership of the company.
Sable Offshore Corp. (NYSE:SOC - Get Free Report) insider Anthony Duenner sold 279,081 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $16.69, for a total value of $4,657,861.89. Following the completion of the transaction, the insider owned 470,919 shares in the company, valued at $7,859,638.11. The trade was a 37.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Sable Offshore Stock Performance
NYSE SOC opened at $15.36 on Friday. The stock has a market capitalization of $2.26 billion, a P/E ratio of -3.66 and a beta of -0.10. Sable Offshore Corp. has a 52 week low of $3.72 and a 52 week high of $35.00. The stock has a fifty day moving average of $12.03 and a 200-day moving average of $11.48.
Sable Offshore (NYSE:SOC - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.20. Equities research analysts forecast that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. TD Cowen reaffirmed a "buy" rating on shares of Sable Offshore in a research note on Thursday, December 18th. Benchmark reissued a "hold" rating on shares of Sable Offshore in a research note on Thursday, March 5th. Jefferies Financial Group increased their price objective on shares of Sable Offshore from $28.00 to $30.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sable Offshore in a research note on Tuesday, January 27th. Finally, Roth Mkm reiterated a "buy" rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sable Offshore currently has a consensus rating of "Hold" and an average target price of $19.50.
Check Out Our Latest Research Report on Sable Offshore
Hedge Funds Weigh In On Sable Offshore
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. grew its position in shares of Sable Offshore by 1,504.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 11,091,773 shares of the company's stock worth $100,048,000 after buying an additional 10,400,275 shares during the period. Capital International Investors raised its position in shares of Sable Offshore by 542.6% in the 4th quarter. Capital International Investors now owns 11,592,407 shares of the company's stock valued at $104,564,000 after acquiring an additional 9,788,351 shares during the period. FourWorld Capital Management LLC bought a new position in Sable Offshore during the 4th quarter worth approximately $73,113,000. Encompass Capital Advisors LLC boosted its stake in Sable Offshore by 60.6% during the 4th quarter. Encompass Capital Advisors LLC now owns 13,489,241 shares of the company's stock worth $121,673,000 after acquiring an additional 5,091,925 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Sable Offshore by 64.9% during the fourth quarter. Vanguard Group Inc. now owns 7,557,670 shares of the company's stock valued at $68,170,000 after purchasing an additional 2,975,712 shares during the period. Institutional investors own 26.19% of the company's stock.
About Sable Offshore
(
Get Free Report)
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.
Further Reading
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