Sable Offshore (SOC) Expected to Announce Quarterly Earnings on Thursday

Sable Offshore (NYSE:SOC) is projected to issue its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter.

Sable Offshore Price Performance

SOC stock opened at $29.18 on Wednesday. The firm has a 50 day moving average of $25.08 and a 200-day moving average of $22.46. Sable Offshore has a 12-month low of $10.11 and a 12-month high of $32.33. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOC. BWS Financial restated a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a research report on Wednesday, November 27th. Benchmark restated a “buy” rating and set a $37.00 price objective on shares of Sable Offshore in a research report on Thursday, February 20th. Pickering Energy Partners began coverage on Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, Johnson Rice began coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

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.