Benchmark reissued their buy rating on shares of Sable Offshore (NYSE:SOC – Free Report) in a report published on Wednesday, Benzinga reports. Benchmark currently has a $24.00 price target on the stock.
Sable Offshore Price Performance
Shares of SOC opened at $16.57 on Wednesday. The company has a quick ratio of 2.60, a current ratio of 2.80 and a debt-to-equity ratio of 2.91. The firm’s 50 day moving average price is $15.07. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $16.94.
Insider Activity at Sable Offshore
In related news, Director Gregory Phillip Pipkin sold 82,238 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 85,540 shares of the company’s stock, valued at $1,254,016.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James C. Flores bought 100,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was acquired at an average price of $13.74 per share, with a total value of $1,374,000.00. Following the transaction, the chief executive officer now owns 2,625,000 shares in the company, valued at approximately $36,067,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Phillip Pipkin sold 82,238 shares of Sable Offshore stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $14.66, for a total transaction of $1,205,609.08. Following the completion of the sale, 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. 14.30% of the stock is owned by insiders.
Institutional Investors 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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