Sable Offshore price target lowered to $22 from $26 at Roth Capital

Roth Capital lowered the firm’s price target on Sable Offshore (SOC) to $22 from $26 but keeps a Buy rating on the shares. The firm is citing the dilution from the company’s $250M share placement but also notes that Sable Offshore is a high-growth company with low base declines, strong field margins, and an eventual plan to return material amounts of capital to shareholders through a dividend and buyback, the analyst tells investors in a research note.