Sable Offshore Corp. (SOC) Stock

Sable Offshore Corp. (SOC) is a Energy stock trading at $5.06 (as of 2026-08-20), with a market capitalization of $781.08M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Sable Offshore Corp. performs oil and gas exploration and development activities in the United States. It operates offshore platforms off California and an onshore processing facility supported by 16 federal leases covering about 76,000 acres.

Understand Sable Offshore Corp.: how it makes money

Sable Offshore Corp. explores for and develops oil and gas, operating offshore California platforms and an onshore processing facility, and it makes money by selling oil that is produced and moved through its pipeline system.

In Sable Offshore’s profit model, operating activity is mainly translated into revenue through throughput and sales, so pipeline oil sales rate and platform oil production rate are the key operational drivers behind reported results.

Business quality (Weak): The provided financial snapshot shows 0.0B revenue and an extreme negative operating margin, while the operational metrics provided relate to oil throughput and sales, and the segment candidates provided appear to be pipeline filling costs rather than revenue segments.

Bull case

  • Measurable operational throughput links activity to sales: The company tracks pipeline oil sales rate and platform gross oil production rate, which are directly connected to how much product can be sold.
  • Operational footprint includes multiple platforms and processing: Operations span three offshore California platforms and an onshore processing facility supporting the overall production and handling system.

Bear case

  • Reported financials are not consistent with a meaningful revenue base in the provided quarter: For the period ending 2026-03-31, revenue is shown as 0.0B, while operating margin is extremely negative, suggesting major accounting or cost impacts.
  • Pipeline system-related one-time costs can distort comparability: The only provided segment candidates relate to one-time costs and the non-cash portion of those costs attributable to filling specific pipeline segments, which can swing quarter results.
Valuation — source: SEC EDGAR (first-party)
Price$5.06
Market Cap$781.08M
Price / Book1.98
Price / Sales5.59
FCF Yield-116.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$0.00
Financial Health — source: SEC EDGAR
Altman Z-Score-1.91 (distress)
Valuation vs Sector & Industry
Sector P/E (Energy)16.8
Industry P/E (Petroleum & Natural Gas)16.7
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderPILGRIM GLOBAL ADVISORS LLC ($300.77M)
Institutional Holders Tracked10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEOJames C. Flores
Employees161
CountryUS
IPO Date2021-04-19

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SOC earnings history · SOC institutional & insider holders · SOC KPIs & operating metrics · SOC financials · SOC investor presentations & press releases · SOC SEC filings · SOC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.