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

Shares of Sable Offshore Corp. (NYSE:SOC) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.00.

SOC has been the subject of a number of research analyst reports. Pickering Energy Partners began coverage on Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company. Benchmark reiterated a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. BWS Financial reiterated a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Roth Mkm initiated coverage on shares of Sable Offshore in a report on Thursday. They issued a “buy” rating and a $30.00 price objective on the stock.

Hedge Funds Weigh In On Sable Offshore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of Sable Offshore by 29.0% in the 4th quarter. California State Teachers Retirement System now owns 31,856 shares of the company’s stock worth $730,000 after acquiring an additional 7,152 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Sable Offshore in the fourth quarter valued at approximately $344,000. GF Fund Management CO. LTD. acquired a new position in shares of Sable Offshore during the fourth quarter worth approximately $451,000. Two Seas Capital LP bought a new position in Sable Offshore in the 4th quarter worth approximately $3,630,000. Finally, Rafferty Asset Management LLC grew its holdings in Sable Offshore by 377.5% in the 4th quarter. Rafferty Asset Management LLC now owns 119,765 shares of the company’s stock worth $2,743,000 after buying an additional 94,684 shares in the last quarter. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Sable Offshore Price Performance

Sable Offshore stock traded up $0.55 during trading on Thursday, reaching $26.72. The company had a trading volume of 67,266 shares, compared to its average volume of 954,601. Sable Offshore 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. The stock’s 50 day moving average price is $26.07 and its two-hundred day moving average price is $23.67.

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.