Americana Partners LLC Takes $309,000 Position in Sable Offshore Corp. (NYSE:SOC)

Americana Partners LLC purchased a new position in Sable Offshore Corp. (NYSE:SOC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 13,491 shares of the company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sable Offshore during the 3rd quarter worth approximately $406,000. Ballentine Partners LLC acquired a new stake in shares of Sable Offshore in the 3rd quarter worth $313,000. US Bancorp DE increased its stake in shares of Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after acquiring an additional 3,758 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in shares of Sable Offshore in the 3rd quarter worth $296,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Sable Offshore in the 3rd quarter worth $575,000. Institutional investors and hedge funds own 26.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Pickering Energy Partners assumed coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a research report on Wednesday, November 27th. Finally, Johnson Rice began coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, Sable Offshore presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Sable Offshore Price Performance

NYSE SOC opened at $31.26 on Wednesday. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The stock has a 50-day moving average of $24.04 and a two-hundred day moving average of $21.81. Sable Offshore Corp. has a 1-year low of $10.11 and a 1-year high of $32.05.

Sable Offshore Company Profile

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. The company operates through three platforms located in federal waters offshore California. It owns and operates 16 federal leases across approximately 76,000 acres and subsea pipelines, which transport crude oil, natural gas, and produced water from the platforms to the onshore processing facilities.