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Sable Offshore (SOC)

Company Profile

Company profile

Ticker

SOC

Exchange

Website

www.sableoffshore.com

CEO

Mr. James C. Flores

Incorporated

Location

Fiscal year end

Sector

Mining, Quarrying, and Oil and Gas Extraction > Drilling Oil and Gas Wells

Industry (SIC)

Crude Petroleum & Natural Gas

Petróleo Brasileiro S.A. - Petrobras • Occidental Petroleum • Devon Energy • Expand Energy • Marathon Oil • EOG Resources • Pressburg • Ovintiv • Murphy Oil • Noble Energy ...

Former names

Flame Acquisition Corp.

SEC CIK

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Material Contracts & Credit Agreements

IRS number

853514078

SOC stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$21.50

Low target

$6.00

High target

$37.00

Benchmark

Maintains

Buy

$37.00

24 Sep 24

Latest filings (excl ownership)

View all

Prospectus supplement

Prospectus supplement

Regulation FD Disclosure

Sable Offshore Corp. Reports Third Quarter 2024 Financial and Operational Results

Prospectus supplement

Prospectus supplement

Quarterly report

Prospectus supplement

Prospectus supplement

Latest ownership filings

View all

Fort Baker Capital Management LP

Pilgrim Global ICAV

Harraden Circle Investments, LLC

BlackRock, Inc.

Gregory Phillip Pipkin

Christopher Binyon Sarofim

Michael E. Dillard

Global ICAV Pilgrim

Anthony Duenner

Financial summary

Financial statements Chart SOC financial data

Quarter (USD)	Sep 24	Dec 23	Sep 23	Jun 23
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 23	Dec 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)		323.48 mm	323.48 mm	323.48 mm	323.48 mm	323.48 mm
Cash burn (monthly)		(no burn)	84.90 mm	19.75 mm	10.55 mm	2.91 mm
Cash used (since last report)		n/a	237.07 mm	55.14 mm	29.44 mm	8.13 mm
Cash remaining		n/a	86.42 mm	268.34 mm	294.04 mm	315.35 mm
Runway (months of cash)		n/a	1.0	13.6	27.9	108.3

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q2 2024

SOC institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	0	25	EXIT
Opened positions	0	25	EXIT
Closed positions	25	0	NEW
Increased positions	0	0
Reduced positions	0	0

13F shares	Current	Prev Q	Change
Total value	0.00	10.20 bn	EXIT
Total shares	0.00	4.08 mm	EXIT
Total puts	0.00	0.00
Total calls	0.00	0.00
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change

Largest transactions	Shares	Bought/sold	Change
Adage Capital Partners GP, L.L.C.	0.00	-970.93 k	EXIT
First Pacific Advisors	0.00	-620.87 k	EXIT
Shaolin Capital Management	0.00	-504.10 k	EXIT
Aventail Capital	0.00	-308.25 k	EXIT
Pilgrim Global Advisors	0.00	-250.00 k	EXIT
Bluefin Capital Management	0.00	-127.48 k	EXIT
Moore Capital Management	0.00	-125.00 k	EXIT
Cowen And	0.00	-120.94 k	EXIT
Security Benefit Life Insurance	0.00	-110.24 k	EXIT
CSS	0.00	-103.00 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

SOC insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Nov 24	Gregory Phillip Pipkin	Common Stock		Acquire X	No	No	11.5	7,500	86.25 k	93,040
1 Nov 24	Gregory Phillip Pipkin	Warrants Common Stock		Dispose X	No	No	11.5	7,500	86.25 k	77,500
28 Oct 24	Michael E. Dillard	Common Stock		Acquire X	No	No	11.5	267,847	3.08 mm	422,500
28 Oct 24	Michael E. Dillard	Warrants Common Stock		Dispose X	No	No	11.5	267,847	3.08 mm	77,500
25 Oct 24	Sarofim Christopher Binyon	Common Stock		Acquire X	No	No	11.5	250,000	2.88 mm	899,653
25 Oct 24	Sarofim Christopher Binyon	Warrants Common Stock		Dispose X	No	No	11.5	250,000	2.88 mm	77,500
25 Oct 24	Pilgrim Global ICAV	Common Stock, par value $0.0001 per share	Conversion	Acquire C	No	No	11.5	1,453,374	16.71 mm	10,244,375
25 Oct 24	Pilgrim Global ICAV	Warrants Common Stock, par value $0.0001 per share	Conversion	Dispose C	No	No	11.5	1,453,374	16.71 mm	0
25 Oct 24	Michael E. Dillard	Warrants Common Stock	Sell	Dispose S	No	No	9.104	134,653	1.23 mm	345,347
23 Oct 24	Anthony Duenner	Common Stock		Acquire X	Yes	No	11.5	50,000	575.00 k	50,000

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro

Accenture Posts Upbeat Results, Joins Darden Restaurants, CarMax And Other Big Stocks Moving Higher On Thursday

BWS Financial Maintains Sell on Sable Offshore, Maintains $6 Price Target

BWS Financial analyst Hamed Khorsand maintains Sable Offshore (NYSE:SOC) with a Sell and maintains $6 price target.

BWS Financial Maintains Sell on Sable Offshore, Maintains $6 Price Target

BWS Financial analyst Hamed Khorsand maintains Sable Offshore (NYSE:SOC) with a Sell and maintains $6 price target.

Sable Offshore Reports Q3 Net Income Of $(255.6)M

BWS Financial Initiates Coverage On Sable Offshore with Sell Rating, Announces Price Target of $6

Press releases

From Benzinga Pro

Sable Offshore Corp. Reports Third Quarter 2024 Financial and Operational Results

Sable Offshore Corp. ("Sable," or the "Company")(NYSE:SOC) today announced its third quarter 2024 financial and operational results. Third Quarter 2024 Financial Highlights Reported a net loss of $255.6 million for

Sable Offshore Corp. Continues to Coordinate with California Coastal Commission on Maintenance and Repair Work in the Coastal Zone

Today, Sable Offshore Corp. ("Sable") provided an update on its ongoing coordination with the California Coastal Commission ("CCC" or "Commission") related to Sable's maintenance and repair work along the existing

Sable Offshore Corp. Announces Completion of Redemption of Public Warrants

Sable Offshore Corp. (NYSE:SOC, "Sable", or the "Company")) today announced the results of its previously announced redemption of all of its outstanding publicly held warrants (the "Public Warrants") to purchase shares

Sable Offshore Corp. Provides Update on Pacific Pipeline Company Operations

Sable Offshore Corp. Announces Redemption of Public Warrants

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