The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sable Offshore Corp. shares valued at $1,205,461 were sold by Pipkin Gregory Phillip on Jun 05 ’24. At $14.66 per share, Pipkin Gregory Phillip sold 82,238 shares. The insider’s holdings dropped to 85,540 shares worth approximately $1.39 million following the completion of this transaction.
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Also, Bourgeois Doss R sold 105,000 shares, netting a total of over 1,395,146 in proceeds. Following the sale of shares at $13.29 each, the insider now holds 650,000 shares.
Before that, FLORES JAMES C had added 100,000 shares to its account. In a trade valued at $1,374,150, the Chairman & CEO bought Sable Offshore Corp. shares for $13.74 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $42.52 million.
As published in their initiating research note from TD Cowen on February 26, 2024, Sable Offshore Corp. [SOC] has been an Outperform and the price target has been revised to $20.
Analyzing SOC Stock Performance
During the last five days, there has been a surge of approximately 12.11%. Over the course of the year, Sable Offshore Corp. shares have jumped approximately 42.23%. Shares of the company reached a 52-week high of $15.94 on 07/03/24 and a 52-week low of $10.11 on 04/18/24. A 50-day SMA is recorded $13.34, while a 200-day SMA reached $11.68. Nevertheless, trading volume fell to 0.17 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for Sable Offshore Corp. (SOC)
According to the 24-hour chart, there is a support level at 15.51, which, if violated, would cause prices to drop to 15.24. In the upper region, resistance lies at 16.00. The next price resistance is at 16.22. RSI (Relative Strength Index) is 68.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.69, which suggests the price will decrease in the coming days. Percent R is at 6.85%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
