Sable Offshore (SOC) Initiates Coverage with Positive Outlook Amid Planned Growth

Mar 27, 2025

Shares of Sable Offshore (SOC, Financial) showed volatility on Thursday despite a positive outlook from Roth Capital, which began coverage with a Buy rating and a $30 price target. The firm highlighted the company's strong growth prospects and effective cost management strategies. Sable Offshore plans to resume production at the Santa Ynez field in the second quarter, potentially boosting output to 28,000 barrels of oil equivalent per day within months, aiming for 40,000 by 2027. The company is also eyeing a future dividend and share buyback program, contingent on regulatory approvals.

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