Sable Offshore Corp (NYSE:SOC) shares traded 1.42% higher at $22.84 on Wall Street last session.
SOC stock price is now 5.42% away from the 50-day moving average and 34.39% away from the 200-day moving average. The market capitalization of the company currently stands at $2.04B.
On November 05, 2024, Johnson Rice recently initiated its ‘Buy’ rating on the stock quoting a target price of $30, while ‘BWS Financial’ rates the stock as ‘Sell’
In other news, Pilgrim Global ICAV, 10% Owner bought 750,000 shares of the company’s stock on Sep 19 ’24. The stock was bought for $15,000,000 at an average price of $20.00. Upon completion of the transaction, the 10% Owner now directly owns 8,791,001 shares in the company, valued at $200.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 27 ’24, 10% Owner Pilgrim Global ICAV bought 41,000 shares of the business’s stock. A total of $633,450 was incurred on buying the stock at an average price of $15.45. This leaves the insider owning 8,041,001 shares of the company worth $183.66 million. A total of 35.07% of the company’s stock is owned by insiders.
During the past 12 months, Sable Offshore Corp has had a low of $10.11 and a high of $28.67. As of last week, the company has a debt-to-equity ratio of 4.86, a current ratio of 3.50, and a quick ratio of 3.34. The fifty day moving average price for SOC is $21.6228 and a two-hundred day moving average price translates $16.9413 for the stock.
The latest earnings results from Sable Offshore Corp (NYSE: SOC) was released for 2024-06-30. The company reported revenue of $54.61 million for the quarter, compared to $22.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 142.33 percent.
