Sable Offshore Corp. (NYSE:SOC) is one of the
8 Best Small Cap US Stocks to Buy.
On May 6, 2026, Sable Offshore Corp. (NYSE:SOC) reported Q1 EPS of ($1.37), versus the consensus estimate of (52c). Revenue totaled $1.27M, versus the consensus estimate of $8.05M. The company said it continues progressing discussions tied to the refinancing of its Senior Secured Term Loan, which it expects to complete during Q2 2026.
On April 22, 2026, Jefferies lowered the firm’s price target on Sable Offshore Corp. (NYSE:SOC) to $24 from $30 while maintaining a Buy rating following the company’s operational and financial update and a fireside chat hosted with CEO Jim Flores and CFO Greg Patrinely.
Earlier in April, Sable Offshore Corp. (NYSE:SOC) provided a broader corporate update covering operational, legal, and financial developments. The company said the previously announced restart of oil transportation through Segments 324 and 325 of the Santa Ynez Pipeline System was completed in compliance with applicable safety standards under its pipeline integrity management program. Sable said 40 wells currently operating across Platform Harmony and Platform Heritage are producing an average of 750 gross barrels of oil per day per well. Once all 74 production wells are online, the company expects average production to reach approximately 700 gross barrels per day per well. Platform Hondo is expected to begin operations in June 2026 with an estimated fully ramped production rate of approximately 10,000 gross barrels of oil per day.
The company also said capital spending across its assets is expected to total approximately $180M from April through December 2026 as it focuses on facility upgrades, maintenance spending, and production optimization initiatives. Sable added that it is in discussions with both banking partners and the U.S. government regarding potential federal credit support tied to the planned refinancing. Concurrent with the refinancing, the company intends to implement a commodity hedging program focused on protecting cash flow while preserving upside exposure. To date, Sable Offshore Corp. (NYSE:SOC) said it has sold more than 7.0M shares through its at-the-market equity program, generating approximately $95M in gross proceeds. The company also noted that the U.S. Department of Justice has moved to terminate or modify an existing Consent Decree related to litigation in California federal court, with a hearing scheduled for June 1. Sable is not a party to the litigation but said it is participating in a briefing tied to the proposed changes.