Sable Offshore Corp. (NYSE:SOC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.00.
SOC has been the subject of several recent analyst reports. BWS Financial reaffirmed a "sell" rating and set a $6.00 price objective on shares of Sable Offshore in a research report on Wednesday, November 27th. Johnson Rice assumed coverage on Sable Offshore in a report on Tuesday, November 5th. They set a "buy" rating and a $30.00 price target for the company. Finally, Pickering Energy Partners initiated coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an "outperform" rating on the stock.
View Our Latest Report on Sable Offshore
NYSE SOC opened at $21.90 on Wednesday. Sable Offshore has a 52 week low of $10.11 and a 52 week high of $29.80. The firm has a 50 day moving average of $23.23 and a two-hundred day moving average of $21.24. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.
A number of large investors have recently made changes to their positions in SOC. The Manufacturers Life Insurance Company purchased a new stake in Sable Offshore in the second quarter valued at approximately $324,000. SG Americas Securities LLC acquired a new position in shares of Sable Offshore in the 3rd quarter valued at $412,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sable Offshore in the 3rd quarter valued at $406,000. Ballentine Partners LLC purchased a new stake in Sable Offshore in the 3rd quarter valued at $313,000. Finally, US Bancorp DE grew its position in Sable Offshore by 340.4% during the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company's stock worth $115,000 after purchasing an additional 3,758 shares during the last quarter. 26.19% of the stock is owned by institutional investors and hedge funds.
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.
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