BWS Financial Reiterates Sell Rating for Sable Offshore (NYSE:SOC)

BWS Financial reiterated their sell rating on shares of Sable Offshore (NYSE:SOC) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $6.00 price target on the stock. BWS Financial also issued estimates for Sable Offshore’s FY2025 earnings at $1.52 EPS.

SOC has been the subject of several other reports. Pickering Energy Partners began coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.25.

Sable Offshore Trading Down 0.0 %

Shares of NYSE:SOC opened at $25.95 on Tuesday. The business’s 50 day simple moving average is $25.84 and its two-hundred day simple moving average is $23.52. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. Sable Offshore has a 52-week low of $10.11 and a 52-week high of $32.33.

Hedge Funds Weigh In On Sable Offshore

Large investors have recently made changes to their positions in the stock. Himalaya Capital Management LLC bought a new stake in Sable Offshore during the third quarter valued at $31,735,000. Encompass Capital Advisors LLC lifted its stake in Sable Offshore by 128.9% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,400,000 shares of the company’s stock worth $32,060,000 after purchasing an additional 788,495 shares during the last quarter. State Street Corp lifted its stake in Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock worth $37,557,000 after purchasing an additional 677,426 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sable Offshore by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company’s stock worth $79,832,000 after buying an additional 665,407 shares during the period. Finally, GM Advisory Group LLC increased its holdings in shares of Sable Offshore by 370.3% in the third quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock worth $12,051,000 after buying an additional 401,559 shares during the period. 26.19% of the stock is owned by institutional investors.

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.