Energy Secretary post positive for Sable Offshore, says Roth Capital

Roth Capital analyst Leo Mariani views a social media post Friday night by Energy Secretary Chris Wright as a positive for Sable Offshore (SOC) shares. The post showed support for the restart of oil production from Sable’s Santa Ynez oil project off the coast of California, the analyst tells investors in a research note. Roth believes the post will give investors some assurance that the federal government is behind Sable’s oil project. It keeps a Buy rating on the shares with a $28 price target Secretary Wright said via X: “Only in California! Newsom is blocking oil production off California’s coast from reaching their own refineries, driving gasoline prices even higher for Californians! Now, this oil production will have to be shipped elsewhere, lowering gas prices for other areas- just not for California! This is the opposite of common sense! The Trump administration is working every day to LOWER energy prices for ALL Americans!”