Sable Offshore (NYSE:SOC) Sets New 12-Month Low at $10.11

Sable Offshore Corp. (NYSE:SOC)’s stock price reached a new 52-week low on Thursday . The company traded as low as $10.11 and last traded at $10.15, with a volume of 7138 shares. The stock had previously closed at $10.34.

Analyst Upgrades and Downgrades

Separately, TD Cowen began coverage on shares of Sable Offshore in a research note on Monday, February 26th. They set an “outperform” rating and a $20.00 price target on the stock.

Sable Offshore Trading Down 1.1 %

The stock has a 50-day simple moving average of $11.50.

Insiders Place Their Bets

In other Sable Offshore news, Director Christopher Binyon Sarofim acquired 6,000,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $10.00 per share, with a total value of $60,000,000.00. Following the transaction, the director now owns 3,000,000 shares of the company’s stock, valued at approximately $30,000,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher Binyon Sarofim bought 6,000,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average price of $10.00 per share, with a total value of $60,000,000.00. Following the completion of the acquisition, the director now directly owns 3,000,000 shares in the company, valued at $30,000,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President James Caldwell Flores bought 300,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $3,000,000.00. Following the acquisition, the president now owns 371,875 shares of the company’s stock, valued at $3,718,750. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by insiders.

About Sable Offshore

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. It operates through three platforms located offshore California and an onshore processing facility comprised of 16 federal leases across approximately 76,000 acres. The company was formerly known as Flame Acquisition Corp.