Sable Offshore (NYSE:SOC – Get Free Report) posted its quarterly earnings results on Monday. The company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($1.21), FiscalAI reports. The firm had revenue of $154.37 million during the quarter, compared to the consensus estimate of $157.47 million.
Sable Offshore Stock Performance
Shares of NYSE SOC traded down $1.34 during mid-day trading on Monday, reaching $0.59. 48,118,718 shares of the company’s stock were exchanged, compared to its average volume of 7,923,550. The firm has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $8.58. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.24 and a quick ratio of 0.18. The firm has a market capitalization of $113.59 million, a price-to-earnings ratio of -0.18 and a beta of -0.09. Sable Offshore has a 52 week low of $0.51 and a 52 week high of $19.25.
Analyst Ratings Changes
A number of equities research analysts have weighed in on SOC shares. Jefferies Financial Group set a $9.00 target price on Sable Offshore in a report on Wednesday, August 12th. Wall Street Zen raised shares of Sable Offshore from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. William Blair assumed coverage on shares of Sable Offshore in a research report on Monday, October 5th. They set an “outperform” rating for the company. JPMorgan Chase & Co. began coverage on shares of Sable Offshore in a research note on Friday, October 2nd. They issued an “overweight” rating and a $10.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sable Offshore in a research report on Monday, October 19th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.40.
Read Our Latest Stock Report on SOC
Sable Offshore Company Profile
Sable Offshore Corp. is an independent energy company focused on developing and operating oil and natural gas assets offshore California. Its principal asset is the Santa Ynez Unit, a mature offshore field in the Santa Barbara Channel that includes offshore production platforms, subsea infrastructure, pipelines and the Las Flores Canyon processing facility onshore.
The company’s operations are designed to produce and process crude oil, natural gas and associated hydrocarbons from the Santa Ynez Unit.
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