Sable Offshore (SOC) Receives a Rating Update from a Top Analyst

In a report released today, Leo Mariani from Roth MKM maintained a Buy rating on Sable Offshore, with a price target of $24.00.

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According to TipRanks, Mariani is a top 25 analyst with an average return of 36.8% and a 73.28% success rate. Mariani covers the Energy sector, focusing on stocks such as SM Energy, Permian Resources, and EQT.

Currently, the analyst consensus on Sable Offshore is a Moderate Buy with an average price target of $22.67.

Based on Sable Offshore’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $62.17 million. In comparison, last year the company had a GAAP net loss of $16.17 million

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SOC in relation to earlier this year. Last month, Anthony Duenner, the EVP, GC & Secretary of SOC sold 279,081.00 shares for a total of $4,655,071.08.