James Caldwell Flores Sells 279,081 Shares of Sable Offshore (NYSE:SOC) Stock

Sable Offshore Corp. (NYSE:SOC) COO James Caldwell Flores sold 279,081 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $16.69, for a total transaction of $4,657,861.89. Following the completion of the sale, the chief operating officer owned 442,794 shares of the company’s stock, valued at $7,390,231.86. The trade was a 38.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sable Offshore Stock Up 4.5%

SOC traded up $0.66 during midday trading on Thursday, hitting $15.36. The company had a trading volume of 5,075,569 shares, compared to its average volume of 7,158,966. The stock’s 50 day moving average price is $11.97 and its 200 day moving average price is $11.45. Sable Offshore Corp. has a 52 week low of $3.72 and a 52 week high of $35.00. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -3.66 and a beta of -0.11.

Sable Offshore (NYSE:SOC) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.20. Research analysts predict that Sable Offshore Corp. will post -6.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen reissued a “buy” rating on shares of Sable Offshore in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sable Offshore in a research report on Tuesday, January 27th. Roth Mkm reissued a “buy” rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Jefferies Financial Group boosted their price target on shares of Sable Offshore from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. Finally, Benchmark restated a “hold” rating on shares of Sable Offshore in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Sable Offshore presently has an average rating of “Hold” and a consensus price target of $19.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Sable Offshore during the fourth quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd raised its position in Sable Offshore by 263.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,230 shares of the company’s stock valued at $47,000 after buying an additional 3,790 shares during the last quarter. NewEdge Advisors LLC raised its position in Sable Offshore by 36.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock valued at $62,000 after buying an additional 650 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new position in Sable Offshore during the 4th quarter valued at $90,000. Finally, Kestra Advisory Services LLC bought a new position in Sable Offshore during the 4th quarter valued at $97,000. Institutional investors own 26.19% of the company’s stock.

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.