Sable Offshore Corp (NYSE: SOC): Stock Forecast For 2024 Sees A An Incline Of 106.01%

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In the last trading session, 2.32 million shares of the Sable Offshore Corp (NYSE:SOC) were traded, and its beta was 0.29. Most recently the company’s share price was $21.59, and it changed around $0.94 or 4.55% from the last close, which brings the market valuation of the company to $1.77B. SOC currently trades at a discount to its 52-week high of $28.67, offering almost -32.79% off that amount. The share price’s 52-week low was $10.11, which indicates that the current value has risen by an impressive 53.17% since then. We note from Sable Offshore Corp’s average daily trading volume that its 10-day average is 1.15 million shares, with the 3-month average coming to 1.19 million.

Sable Offshore Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended SOC as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight.

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Sable Offshore Corp (NYSE:SOC) trade information

Instantly SOC has showed a green trend with a performance of 4.55% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 24.49 on recent trading dayincreased the stock’s daily price by 11.84%. The company’s shares are currently up 89.55% year-to-date, but still down -9.25% over the last five days. On the other hand, Sable Offshore Corp (NYSE:SOC) is 6.67% up in the 30-day period. We can see from the shorts that 5.67 million shares have been sold at a short interest cover period of 4.62 day(s).

The consensus price target as assigned by Wall Street analysts is $127, which translates to bulls needing to increase their stock price by 83.0% from its current value. Analyst projections state that SOC is forecast to be at a low of $32 and a high of $222.

SOC Dividends

Sable Offshore Corp’s next quarterly earnings report is expected to be released in December.