Why These Energy Stocks Are Gaining This Week

2. Sable Offshore Corp. (NYSE:SOC)

Share Price Gains Between May 14 – May 21: 13.47%

Sable Offshore Corp. (NYSE:SOC) is a Houston-based independent upstream company focused on developing the prolific Santa Ynez Unit in federal waters offshore California.

Sable Offshore Corp. (NYSE:SOC) received a boost this week after the company announced that it had restarted oil production at the previously dormant Santa Ynez Unit, with anticipation of oil sales from the Las Flores Pipeline System in July 2025. This marked a major milestone for the energy company, which acquired the unit for $883 million from Exxon last year, and has since been busy conducting repairs and tackling regulatory challenges necessary to restart production. SOC expects to fill the roughly 540,000 barrels of crude oil storage capacity at Las Flores Canyon by mid-June and to recommence oil sales the following month.

Following the development, analysts at TD Cowen raised the stock’s price target from $31 to $40, while reiterating a Buy rating.