Sable Offshore (SOC) Projected to Post Quarterly Earnings on Thursday

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

Sable Offshore (NYSE:SOC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.11) earnings per share 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

NYSE SOC opened at $8.17 on Wednesday. Sable Offshore has a 1 year low of $3.72 and a 1 year high of $35.00. The company has a market capitalization of $1.18 billion, a PE ratio of -2.51 and a beta of 0.41. The company has a fifty day moving average of $8.75 and a 200 day moving average of $14.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in Sable Offshore by 36.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock worth $62,000 after acquiring an additional 650 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Sable Offshore by 65.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $165,000 after purchasing an additional 2,960 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of Sable Offshore in the third quarter valued at about $221,000. IHT Wealth Management LLC purchased a new stake in shares of Sable Offshore during the second quarter worth about $304,000. Finally, Interval Partners LP acquired a new position in shares of Sable Offshore during the 3rd quarter worth about $317,000. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sable Offshore Company Profile

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.