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 $ 268.39 million.
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 $2.61 million.
Pickering Energy Partners initiated its Sable Offshore Corp [SOC] rating to an Outperform in a research note published recently. A number of analysts have revised their coverage, including Johnson Rice’s analysts, who began to cover the stock in early November with a ‘”a Buy”‘ rating. BWS Financial began covering SOC with “Sell” recommendation on October 08, 2024. Jefferies started covering the stock on August 13, 2024. It rated SOC as “a Buy”.
Price Performance Review of SOC
On Friday, Sable Offshore Corp [NYSE:SOC] saw its stock fall -0.33% to $30.53. Over the last five days, the stock has gained 39.09%. Sable Offshore Corp shares have risen nearly 33.32% since the year began. Nevertheless, the stocks have risen 154.42% over the past one year. While a 52-week high of $31.56 was reached on 02/13/25, a 52-week low of $10.11 was recorded on 02/05/25. SMA at 50 days reached $23.58, while 200 days put it at $19.34.
Levels Of Support And Resistance For SOC Stock
The 24-hour chart illustrates a support level at 29.25, which if violated will result in even more drops to 27.98. On the upside, there is a resistance level at 31.50. A further resistance level may holdings at 32.48. The Relative Strength Index (RSI) on the 14-day chart is 68.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.38, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 10.32%. Stochastics %K at 72.42% 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 2025-01-31, dropping by -1.01 million shares to a total of 6.07 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-31 was 7.08 million shares. There was a decline of -16.68%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 17, 2024 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $24 price target.
