Sable Offshore (NYSE:SOC) Sets New 12-Month Low at $10.11

Sable Offshore Corp. (NYSE:SOC)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $10.11 and last traded at $10.15, with a volume of 7138 shares changing hands. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

Separately, TD Cowen assumed coverage on shares of Sable Offshore in a research report on Monday, February 26th. They issued an “outperform” rating and a $20.00 price objective on the stock.

Sable Offshore Trading Down 1.1 %

The stock’s 50 day moving average price is $11.50.

Insider Buying and Selling at Sable Offshore

In related news, Director Christopher Binyon Sarofim bought 6,000,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $10.00 per share, with a total value of $60,000,000.00. Following the purchase, the director now owns 3,000,000 shares in the company, valued at $30,000,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Christopher Binyon Sarofim bought 6,000,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $10.00 per share, with a total value of $60,000,000.00. Following the purchase, the director now owns 3,000,000 shares in the company, valued at $30,000,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President James Caldwell Flores bought 300,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the president now owns 371,875 shares in the company, valued at approximately $3,718,750. The disclosure for this purchase can be found here. 14.30% of the stock is owned by corporate insiders.

About Sable Offshore

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. It operates through three platforms located offshore California and an onshore processing facility comprised of 16 federal leases across approximately 76,000 acres. The company was formerly known as Flame Acquisition Corp.