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

Sable Offshore Corp. (NYSE:SOC) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.00.

Several equities research analysts have recently issued reports on SOC shares. Johnson Rice initiated coverage on Sable Offshore in a report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price on the stock. Jefferies Financial Group increased their target price on Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Benchmark restated a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a research report on Monday, October 7th. Pickering Energy Partners initiated coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, BWS Financial restated a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th.

Sable Offshore Stock Up 1.1 %

Shares of NYSE SOC opened at $22.52 on Tuesday. The firm’s fifty day moving average is $21.69 and its two-hundred day moving average is $19.22. Sable Offshore has a 52-week low of $10.11 and a 52-week high of $28.67. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

Institutional Investors Weigh In On Sable Offshore

Several hedge funds and other institutional investors have recently made changes to their positions in SOC. State Street Corp lifted its stake in shares of Sable Offshore by 74.3% during the 3rd quarter. State Street Corp now owns 1,589,395 shares of the company’s stock worth $37,557,000 after acquiring an additional 677,426 shares during the last quarter. Himalaya Capital Management LLC purchased a new stake in Sable Offshore in the third quarter worth $31,735,000. Geode Capital Management LLC lifted its position in shares of Sable Offshore by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company’s stock worth $24,844,000 after purchasing an additional 26,934 shares during the last quarter. GM Advisory Group LLC boosted its stake in shares of Sable Offshore by 370.3% during the third 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sable Offshore by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock worth $9,111,000 after purchasing an additional 21,794 shares during the last quarter. 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.