Sable Offshore Corp.’s filing revealed that its EVP, Chief Operating Officer Bourgeois Doss R unloaded Company’s shares for reported $1.4 million on May 21 ’24. In the deal valued at $13.29 per share,105,000 shares were sold. As a result of this transaction, Bourgeois Doss R now holds 650,000 shares worth roughly $9.51 million.
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Then, FLORES JAMES C bought 100,000 shares, generating $1,374,150 in total proceeds. Upon buying the shares at $13.74, the Chairman & CEO now owns 2,625,000 shares.
Before that, Flores James Caldwell bought 100,000 shares. Sable Offshore Corp. shares valued at $1,374,150 were divested by the Chairman & CEO at a price of $13.74 per share. As a result of the transaction, Flores James Caldwell now holds 2,625,000 shares, worth roughly $38.4 million.
TD Cowen initiated its Sable Offshore Corp. [SOC] rating to an Outperform in a research note published on February 26, 2024; the price target was $20.
Price Performance Review of SOC
On Friday, Sable Offshore Corp. [NYSE:SOC] saw its stock jump 9.51% to $14.63. Over the last five days, the stock has gained 6.32%. Sable Offshore Corp. shares have risen nearly 28.45% since the year began. Nevertheless, the stocks have risen 44.14% over the past one year. While a 52-week high of $14.22 was reached on 05/24/24, a 52-week low of $10.11 was recorded on 04/18/24. SMA at 50 days reached $11.28, while 200 days put it at $11.08. A total of 0.49 million shares were traded, compared to the trading of 0.32 million shares in the previous session.
Levels Of Support And Resistance For SOC Stock
The 24-hour chart illustrates a support level at 13.92, which if violated will result in even more drops to 13.20. On the upside, there is a resistance level at 15.04. A further resistance level may holdings at 15.45. The Relative Strength Index (RSI) on the 14-day chart is 73.90, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.15, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.53%. Stochastics %K at 78.74% indicates the stock is a holding.
