Keeley Teton Advisors LLC Lowers Holdings in Sable Offshore Corp. (NYSE:SOC)

Keeley Teton Advisors LLC reduced its stake in shares of Sable Offshore Corp. (NYSE:SOC) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 93,675 shares of the company’s stock after selling 2,658 shares during the period. Keeley Teton Advisors LLC owned approximately 0.11% of Sable Offshore worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in Sable Offshore during the fourth quarter worth about $53,000. IFP Advisors Inc acquired a new stake in shares of Sable Offshore during the 4th quarter worth approximately $81,000. ORG Wealth Partners LLC acquired a new stake in shares of Sable Offshore during the 4th quarter worth approximately $106,000. Salem Investment Counselors Inc. increased its holdings in shares of Sable Offshore by 81.8% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock valued at $114,000 after purchasing an additional 2,250 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sable Offshore in the 4th quarter valued at $144,000. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Sable Offshore Trading Up 1.9 %

Shares of Sable Offshore stock opened at $19.69 on Wednesday. The business has a 50 day simple moving average of $24.63 and a two-hundred day simple moving average of $23.37. Sable Offshore Corp. has a 12 month low of $10.11 and a 12 month high of $32.33. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Analysts Set New Price Targets

Several research firms recently commented on SOC. BWS Financial restated a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Capital set a $30.00 target price on Sable Offshore in a research report on Thursday, March 27th. Roth Mkm started coverage on Sable Offshore in a report on Thursday, March 27th. They issued a “buy” rating and a $30.00 price target for the company. Benchmark reissued a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, Pickering Energy Partners initiated coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

About Sable Offshore

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.