Sable Offshore (SOC) to Release Earnings on Thursday

Sable Offshore (NYSE:SOC) is expected to be posting its results before the market opens on Thursday, February 12th. Analysts expect Sable Offshore to post earnings of ($0.58) per share for the quarter.

Sable Offshore (NYSE:SOC) last announced its earnings results on Thursday, November 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.21). On average, analysts expect Sable Offshore to post $-6 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Sable Offshore Price Performance

SOC opened at $8.27 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -2.54 and a beta of 0.41. The company’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $15.63. Sable Offshore has a one year low of $3.72 and a one year high of $35.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOC. NewEdge Advisors LLC increased its stake in Sable Offshore by 36.2% in the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock valued at $62,000 after purchasing an additional 650 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 in the last quarter. Polymer Capital Management US LLC acquired a new stake in Sable Offshore during the 3rd quarter worth $221,000. IHT Wealth Management LLC acquired a new stake in Sable Offshore during the 2nd quarter worth $304,000. Finally, Gamco Investors INC. ET AL bought a new position in Sable Offshore during the second quarter worth about $347,000. Institutional investors and hedge funds own 26.19% of the company’s stock.

Analysts Set New Price Targets

SOC has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of Sable Offshore in a research report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sable Offshore in a report on Tuesday, January 27th. Roth Mkm reissued a “buy” rating on shares of Sable Offshore in a report on Wednesday, December 24th. Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a research note on Thursday, January 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Sable Offshore in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

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.