Benchmark reiterated their buy rating on shares of Sable Offshore (NYSE:SOC – Free Report) in a research note published on Wednesday morning, Benzinga reports. They currently have a $24.00 target price on the stock.
Sable Offshore Stock Performance
NYSE SOC opened at $16.57 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.60 and a debt-to-equity ratio of 2.91. Sable Offshore has a 12 month low of $10.11 and a 12 month high of $16.94. The business’s 50 day moving average price is $15.12.
Insider Buying and Selling at Sable Offshore
In related news, Director Gregory Phillip Pipkin sold 82,238 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $14.66, for a total transaction of $1,205,609.08. Following the completion of the transaction, the director now owns 85,540 shares in the company, valued at $1,254,016.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sable Offshore news, CEO James C. Flores acquired 100,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $13.74 per share, with a total value of $1,374,000.00. Following the purchase, the chief executive officer now directly owns 2,625,000 shares of the company’s stock, valued at approximately $36,067,500. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory Phillip Pipkin sold 82,238 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $14.66, for a total transaction of $1,205,609.08. Following the completion of the transaction, the director now directly owns 85,540 shares of the company’s stock, valued at approximately $1,254,016.40. The disclosure for this sale can be found here. Insiders own 14.30% of the company’s stock.
Hedge Funds Weigh In On Sable Offshore
About Sable Offshore
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.
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