Brokerages Set Sable Offshore Corp. (NYSE:SOC) Target Price at $25.00

Sable Offshore Corp. (NYSE:SOC) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $25.00.

SOC has been the subject of a number of analyst reports. BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research note 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 began coverage on Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company.

Sable Offshore Price Performance

Sable Offshore stock opened at $24.82 on Wednesday. Sable Offshore has a 1-year low of $10.11 and a 1-year high of $29.80. The firm’s fifty day moving average price is $23.31 and its two-hundred day moving average price is $21.46. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SOC. Himalaya Capital Management LLC purchased a new position in Sable Offshore in the third quarter worth $31,735,000. State Street Corp raised its stake in shares of Sable Offshore by 74.3% in the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock valued at $37,557,000 after buying an additional 677,426 shares during the period. Vanguard Group Inc. lifted its holdings in Sable Offshore by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company’s stock valued at $79,832,000 after purchasing an additional 665,407 shares during the last quarter. GM Advisory Group LLC boosted its holdings in Sable Offshore by 370.3% in the 3rd quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock worth $12,051,000 after buying an additional 401,559 shares during the period. Finally, Emerald Advisers LLC bought a new position in Sable Offshore in the 4th quarter worth approximately $6,700,000. Hedge funds and other institutional investors own 26.19% of the company’s stock.

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.