Roth Capital Maintains Buy Rating on Sable Offshore Corp. (SOC) Amid Potential California Petroleum Reserve Opportunity

Sable Offshore Corp. (NYSE:SOC) ranks among the best oil and gas drilling stocks to buy now. On June 6, Roth Capital analyst Leo Mariani maintained his Buy rating on Sable Offshore Corp. (NYSE:SOC) following a Politico report that states that the Trump presidential administration is strongly considering the formation of a major petroleum reserve in California.

According to the firm, should Sable Offshore Corp. be listed as a key supplier to a new California reserve, Energy Secretary Chris Wright may utilize eminent domain in order to secure the company’s operations on state property.

According to Roth, there is a “reasonable likelihood” that Sable Offshore Corp. would significantly contribute to a future reserve in California, which might render any present or future lawsuit against the company moot.

Additionally, Benchmark reaffirmed its Hold rating on Sable Offshore Corp. on June 2 in response to the company’s updated operational and financial projections.

With production continuing uninterrupted, Sable Offshore offered longer-term guidance on its Santa Ynez operations.

Sable Offshore Corp. operates as an independent oil and gas company with offshore California production platforms.

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