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Sable Offshore
(NYSE:SOC)
Sable Offshore (SOC) vs. SPDR S&P 500 ETF (SPY)
Sable Offshore Business Overview & Revenue Model
Sable Offshore Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 18.97M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -375.00K | -13.43M | -21.02M | 0.00 | 0.00 | 0.00 |
| EBITDA | -262.54M | -548.37M | -72.66M | -6.15M | -1.68M | -1.66K |
| Net Income | 171.24M | -629.07M | -93.67M | -2.59M | 4.27M | -1.66K |
Balance Sheet | ||||||
| Total Assets | 1.65B | 1.58B | 711.58M | 290.91M | 288.44M | 304.22K |
| Cash, Cash Equivalents and Short-Term Investments | 41.63M | 300.38M | 0.00 | 100.26K | 322.77K | 9.01K |
| Total Debt | 0.00 | 851.45M | 14.18M | 1.78M | 956.12K | 43.63K |
| Total Liabilities | 1.30B | 1.20B | 372.56M | 18.89M | 13.88M | 280.88K |
| Stockholders Equity | 348.08M | 384.19M | 339.02M | 272.02M | 274.56M | 23.34K |
Cash Flow | ||||||
| Free Cash Flow | -538.25M | -259.38M | -3.84M | -1.71M | -2.01M | -540.00 |
| Operating Cash Flow | -291.11M | -187.08M | -3.84M | -1.71M | -2.01M | -537.00 |
| Investing Cash Flow | -376.61M | -276.25M | 231.58M | 786.92K | -287.50M | 0.00 |
| Financing Cash Flow | 385.87M | 745.76M | -227.56M | 705.00K | 289.82M | 9.55K |
Sable Offshore Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.99B | -18.89 | -5.87% | 3.24% | 35.89% | -148.39% | |
68 Neutral | $1.31B | 14.31 | 7.08% | 5.99% | 5.83% | -11.86% | |
66 Neutral | $2.11B | 70.20 | 1.18% | ― | -9.31% | -91.57% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | $2.51B | -19.94 | -4.00% | 5.42% | -16.59% | 83.95% | |
57 Neutral | $4.64B | -1.31 | -32.05% | ― | 16.93% | -335.82% | |
52 Neutral | $1.25B | -2.34 | -141.26% | ― | ― | ― |
Sable Offshore Corporate Events
On December 23, 2025, Sable Offshore Corp. received an emergency special permit from the U.S. Department of Transportation’s Pipeline and Hazardous Material Safety Administration for segments 324 and 325 of the interstate Santa Ynez Pipeline System, authorizing the company to operate those sections under enhanced integrity management practices and specified operational conditions. The approval marks a key regulatory milestone for Sable as it works to restore full transportation of hydrocarbons from the Santa Ynez Unit, which restarted production in May 2025 after a decade-long shutdown but has not yet sold commercial volumes, with oil currently being stored onshore at its Las Flores Canyon facility pending broader resumption of petroleum transportation.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On December 22, 2025, the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) approved Sable Offshore Corp.’s Restart Plan for the Las Flores Pipeline System, covering Line CA-324 and Line CA-325, formerly known as Plains Line 901 and Line 903. The approval, which followed PHMSA’s review of Sable’s fill and startup procedures, requests to remove pressure restrictions, and a field inspection of restart safety processes, clears a key regulatory hurdle for bringing these pipelines back into service, with potential implications for Sable Offshore’s operational capacity, regional oil transport logistics, and its positioning within the regulated U.S. pipeline network.
The most recent analyst rating on (SOC) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On December 17, 2025, the Pipeline and Hazardous Materials Safety Administration (PHMSA) officially recognized Sable Offshore Corp.’s determination that the Las Flores Pipeline is an interstate pipeline under the Pipeline Safety Act, granting PHMSA exclusive regulatory authority over its operations. This reclassification to an interstate pipeline status is expected to streamline regulations and shift oversight from the California Office of the State Fire Marshal to PHMSA, improving operational consistency across state and federal lines while maintaining the pipeline’s active status in compliance with PHMSA regulations.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 26, 2025, Sable Offshore Corp. informed the Pipeline and Hazardous Materials Safety Administration (PHMSA) that its pipeline connecting the Santa Ynez Unit to the Pentland Station terminal in Kern County, CA, qualifies as an interstate pipeline facility under the Pipeline Safety Act. The company is seeking PHMSA’s agreement and guidance on transitioning regulatory oversight from the California Office of the State Fire Marshal to PHMSA. This move is part of Sable Offshore’s dual option offtake strategy, which includes resuming petroleum transportation through its onshore pipeline facilities and utilizing offshore storage and treating vessels to access broader markets.
The most recent analyst rating on (SOC) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 20, 2025, Sable Offshore Corp. announced significant management changes, promoting J. Caldwell Flores to President and Chief Operating Officer, while Doss Bourgeois transitioned to Vice Chairman. Additional appointments included Trent Fontenot as Senior Vice President of Operations, Brian Broussard as Senior Vice President of Development, and Byron Olson as Vice President of Reservoir Engineering. These changes are expected to impact the company’s operational dynamics and strategic direction.
The most recent analyst rating on (SOC) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 10, 2025, Sable Offshore Corp. announced a private placement of $250 million in common stock to institutional investors, with the transaction expected to close on November 12, 2025. The proceeds will be used for general corporate purposes and to meet the equity contribution condition of a Senior Secured Term Loan amendment, with Jefferies and TD Cowen acting as joint placement agents.
The most recent analyst rating on (SOC) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On November 3, 2025, Sable Offshore Corp. announced an amendment to its Senior Secured Term Loan Agreement with Exxon Mobil, which will extend the loan’s maturity date and increase the interest rate, contingent on certain conditions being met. The company is also advancing its Offshore Storage and Treating Vessel strategy for the Santa Ynez Unit, expecting to resume oil sales by late 2026, which could lead to cost savings and improved market positioning.
The most recent analyst rating on (SOC) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On October 23, 2025, Sable Offshore Corp. issued a press release addressing allegations from the California Office of the State Fire Marshal regarding deficiencies in compliance with State Waivers. Sable disagrees with these allegations, citing past discussions with OSFM experts that confirm compliance, and aims to resolve the issue quickly. The Santa Ynez Unit assets, which restarted production in May 2025, have not sold hydrocarbons commercially since 2015 due to pipeline issues, and the company is awaiting necessary approvals to recommence transportation and sales.
The most recent analyst rating on (SOC) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On October 15, 2025, Sable Offshore Corp. announced a tentative ruling by the Santa Barbara Superior Court that is expected to deny the company’s claims against the California Coastal Commission. Despite this setback, the ruling will not affect the resumption of petroleum transportation through the Las Flores Pipeline System or oil and gas production from the Santa Ynez Unit. Sable plans to appeal the ruling and continues to work with the State of California to resume operations. The company is also considering an accelerated Offshore Storage & Treating Vessel strategy to manage its production, which could help refinance its existing term loan.
The most recent analyst rating on (SOC) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On October 9, 2025, Sable Offshore Corp. updated its Development and Production Plan for the Santa Ynez Unit, submitting it to the U.S. Department of the Interior Bureau of Ocean Energy Management. The update includes plans to use an Offshore Storage and Treating Vessel for oil processing and offloading, as an alternative to the onshore Las Flores Pipeline System, which is still awaiting approval for restart. Delays in the pipeline’s restart may lead Sable to fully adopt its offshore strategy, impacting its operations and market positioning.
The most recent analyst rating on (SOC) stock is a Buy with a $34.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.
On October 6, 2025, Sable Offshore Corp. announced legal updates regarding its ongoing lawsuit against the California Coastal Commission. The company is seeking over $347 million in damages due to delays caused by the Commission’s cease and desist order on its anomaly repair program for the Las Flores Pipeline System. Sable has also filed a declaratory judgment action against the State of California to confirm that certain provisions of SB 237 do not apply to the Las Flores Pipeline System. The company continues to work with the state to resume petroleum transportation through the pipeline system and may pursue an alternative strategy if delays persist.
The most recent analyst rating on (SOC) stock is a Buy with a $47.00 price target. To see the full list of analyst forecasts on Sable Offshore stock, see the SOC Stock Forecast page.