Sable Offshore Corp’s recent filing unveils that its 10% Owner Pilgrim Global ICAV acquired Company’s shares for reported $15.0 million on Sep 19 ’24. In the deal valued at $20.00 per share,750,000 shares were bought. As a result of this transaction, Pilgrim Global ICAV now holds 8,791,001 shares worth roughly $181.53 million.
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Then, Pilgrim Global ICAV bought 41,000 shares, generating $633,450 in total proceeds. Upon buying the shares at $15.45, the 10% Owner now owns 8,041,001 shares.
Before that, Pipkin Gregory Phillip sold 82,238 shares. Sable Offshore Corp shares valued at $1,205,461 were divested by the Director at a price of $14.66 per share. As a result of the transaction, Pipkin Gregory Phillip now holds 85,540 shares, worth roughly $1.77 million.
Johnson Rice initiated its Sable Offshore Corp [SOC] rating to a Buy in a research note published on November 05, 2024; the price target was $30. A number of analysts have revised their coverage, including BWS Financial’s analysts, who began to cover the stock in early October with a ‘”a Sell”‘ rating. Jefferies began covering SOC with “Buy” recommendation on August 13, 2024. The Benchmark Company started covering the stock on July 17, 2024. It rated SOC as “a Buy”.
Price Performance Review of SOC
On Friday, Sable Offshore Corp [NYSE:SOC] saw its stock fall -8.18% to $20.65. Over the last five days, the stock has lost -10.22%. Sable Offshore Corp shares have risen nearly 81.30% since the year began. Nevertheless, the stocks have risen 95.00% over the past one year. While a 52-week high of $28.67 was reached on 09/19/24, a 52-week low of $10.11 was recorded on 04/18/24. SMA at 50 days reached $22.36, while 200 days put it at $15.72.
Levels Of Support And Resistance For SOC Stock
The 24-hour chart illustrates a support level at 20.07, which if violated will result in even more drops to 19.50. On the upside, there is a resistance level at 21.73. A further resistance level may holdings at 22.82. The Relative Strength Index (RSI) on the 14-day chart is 42.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.30%. Stochastics %K at 35.79% indicates the stock is a holding.
How much short interest is there in Sable Offshore Corp?
A steep rise in short interest was recorded in Sable Offshore Corp stocks on 2024-10-31, growing by 0.18 million shares to a total of 5.67 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 5.49 million shares. There was a rise of 3.13%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on February 26, 2024 when TD Cowen began covering the stock and recommended ‘”an Outperform”‘ rating along with a $20 price target.
