Freestone Capital Holdings LLC Invests $687,000 in Sable Offshore Corp. (NYSE:SOC)

Freestone Capital Holdings LLC acquired a new stake in Sable Offshore Corp. (NYSE:SOC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 30,000 shares of the company’s stock, valued at approximately $687,000.

A number of other large investors have also added to or reduced their stakes in SOC. US Bancorp DE raised its holdings in Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after buying an additional 3,758 shares during the last quarter. Covestor Ltd bought a new position in Sable Offshore in the 3rd quarter valued at approximately $130,000. Intech Investment Management LLC bought a new position in Sable Offshore in the 3rd quarter valued at approximately $245,000. Charles Schwab Investment Management Inc. increased its position in Sable Offshore by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock valued at $9,111,000 after purchasing an additional 21,794 shares during the period. Finally, GM Advisory Group LLC increased its position in Sable Offshore by 370.3% during the 3rd quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock valued at $12,051,000 after purchasing an additional 401,559 shares during the period. Institutional investors own 26.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BWS Financial reissued a “sell” rating and set a $6.00 target price on shares of Sable Offshore in a research report on Wednesday, November 27th. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Sable Offshore Trading Down 1.3 %

Shares of SOC stock opened at $23.11 on Friday. Sable Offshore Corp. has a 52 week low of $10.11 and a 52 week high of $32.33. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The firm has a 50 day moving average of $25.63 and a 200-day moving average of $22.90.

Sable Offshore 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.