Sable Offshore Corp. (NYSE:SOC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Sable Offshore Corp. (NYSE:SOC) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $25.00.

SOC has been the topic of a number of recent analyst reports. Johnson Rice assumed coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price target on the stock. Pickering Energy Partners started coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, BWS Financial reissued a “sell” rating and set a $6.00 target price on shares of Sable Offshore in a research note on Wednesday, November 27th.

Hedge Funds Weigh In On Sable Offshore

A number of institutional investors and hedge funds have recently modified their holdings of SOC. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sable Offshore by 31.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock worth $179,000 after purchasing an additional 1,830 shares during the period. Salem Investment Counselors Inc. increased its position in Sable Offshore by 81.8% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock valued at $114,000 after buying an additional 2,250 shares in the last quarter. Rhumbline Advisers increased its position in Sable Offshore by 5.0% in the 4th quarter. Rhumbline Advisers now owns 66,413 shares of the company’s stock valued at $1,521,000 after buying an additional 3,140 shares in the last quarter. IFP Advisors Inc bought a new stake in Sable Offshore in the 4th quarter valued at about $81,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Sable Offshore by 9.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,248 shares of the company’s stock valued at $927,000 after buying an additional 3,531 shares in the last quarter. 26.19% of the stock is currently owned by institutional investors.

Sable Offshore Stock Up 7.3 %

Sable Offshore stock opened at $24.82 on Wednesday. The stock’s 50 day moving average is $23.31 and its 200 day moving average is $21.46. Sable Offshore has a one year low of $10.11 and a one year high of $29.80. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86.

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.