Sable Offshore Corp. (NYSE:SOC) Receives $25.00 Average Target Price from Brokerages

Sable Offshore Corp. (NYSE:SOC) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.00.

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

Sable Offshore Stock Performance

SOC opened at $21.90 on Wednesday. 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 business’s fifty day simple moving average is $23.20 and its 200 day simple moving average is $21.35. Sable Offshore has a 52 week low of $10.11 and a 52 week high of $29.80.

Institutional Trading of Sable Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of SOC. IFP Advisors Inc bought a new position in Sable Offshore during the 4th quarter valued at approximately $81,000. ORG Wealth Partners LLC purchased a new position in shares of Sable Offshore during the fourth quarter valued at approximately $106,000. Salem Investment Counselors Inc. raised its holdings in shares of Sable Offshore by 81.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock valued at $114,000 after acquiring an additional 2,250 shares in the last quarter. US Bancorp DE lifted its stake in Sable Offshore by 340.4% in the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after acquiring an additional 3,758 shares during the period. Finally, Covestor Ltd bought a new stake in Sable Offshore in the third quarter valued at $130,000. Institutional investors own 26.19% of the company’s stock.

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.