Sable Offshore (NYSE:SOC) Shares Gap Up - What's Next?

Sable Offshore Corp. (NYSE:SOC - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $5.28, but opened at $8.05. Sable Offshore shares last traded at $8.7190, with a volume of 12,400,044 shares.Get Sable Offshore alerts:Analyst Upgrades and Downgrades3 Top-Rated Energy Companies Staging Strong RecoveriesSOC has been the subject of several research reports. Jefferies Financial Group reduced their price target on shares of Sable Offshore from $38.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, November 11th. Roth Capital reaffirmed a "buy" rating on shares of Sable Offshore in a report on Monday, December 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Sable Offshore in a report on Thursday, October 30th. Finally, Benchmark decreased their target price on Sable Offshore from $47.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.60.Read Our Latest Stock Report on SOCSable Offshore Stock PerformanceThe stock's 50 day moving average is $8.26 and its 200 day moving average is $18.93. The company has a market capitalization of $1.33 billion, a PE ratio of -2.81 and a beta of 0.51. Sable Offshore (NYSE:SOC - Get Free Report) last posted its earnings results on Thursday, November 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.21). On average, equities research analysts forecast that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year. Insider Buying and Selling at Sable OffshoreIn other news, major shareholder Global Icav Pilgrim purchased 982,645 shares of the stock in a transaction dated Wednesday, October 15th. The shares were purchased at an average cost of $15.04 per share, with a total value of $14,778,980.80. Following the completion of the acquisition, the insider owned 10,933,394 shares in the company, valued at $164,438,245.76. This represents a 9.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 36.36% of the stock is currently owned by corporate insiders. Institutional Trading of Sable OffshoreA number of hedge funds and other institutional investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC lifted its stake in Sable Offshore by 83.8% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,952,023 shares of the company's stock worth $108,845,000 after purchasing an additional 2,257,069 shares in the last quarter. Capital International Investors purchased a new stake in shares of Sable Offshore in the third quarter worth $31,499,000. Cooper Creek Partners Management LLC bought a new stake in Sable Offshore during the second quarter valued at $24,465,000. Bank of America Corp DE boosted its stake in Sable Offshore by 329.8% during the second quarter. Bank of America Corp DE now owns 1,124,427 shares of the company's stock valued at $24,715,000 after buying an additional 862,810 shares during the period. Finally, Two Seas Capital LP bought a new position in Sable Offshore in the 2nd quarter worth about $9,708,000. Institutional investors own 26.19% of the company's stock. Sable Offshore Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Sable OffshoreHow to Calculate Options Profits3 Cheap Dividend Stocks That Can Beat Inflation and Pay You to WaitNatural Gas Prices Continue To Rally, These Stocks Should Benefit3 New Year’s Resolution Stocks That Could Turn Around in 2026Using the MarketBeat Dividend Tax CalculatorCannabis Stocks Up for Reversal: Pipedreams or Opportunity?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Sable Offshore Right Now?Before you consider Sable Offshore, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sable Offshore wasn't on the list.While Sable Offshore currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here