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

Sable Offshore Corp. (NYSE:SOC) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.00.

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

Sable Offshore Stock Performance

Shares of NYSE:SOC traded up $0.55 on Thursday, reaching $26.72. The company’s stock had a trading volume of 67,266 shares, compared to its average volume of 954,601. Sable Offshore has a 52-week low of $10.11 and a 52-week high of $32.33. The stock’s 50-day moving average is $26.07 and its two-hundred day moving average is $23.67. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Sable Offshore in the third quarter valued at approximately $245,000. Charles Schwab Investment Management Inc. grew its stake in Sable Offshore by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock worth $9,111,000 after acquiring an additional 21,794 shares during the period. BNP Paribas Financial Markets raised its holdings in Sable Offshore by 127.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,413 shares of the company’s stock valued at $837,000 after acquiring an additional 19,847 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Sable Offshore during the 3rd quarter worth $591,000. Finally, MetLife Investment Management LLC grew its position in shares of Sable Offshore by 129.1% in the third quarter. MetLife Investment Management LLC now owns 29,606 shares of the company’s stock valued at $700,000 after purchasing an additional 16,682 shares during the period. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

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.