Barclays PLC Purchases 60,065 Shares of Sable Offshore Corp. (NYSE:SOC)

Barclays PLC grew its holdings in Sable Offshore Corp. (NYSE:SOC) by 342.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,583 shares of the company’s stock after purchasing an additional 60,065 shares during the quarter. Barclays PLC owned about 0.12% of Sable Offshore worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Himalaya Capital Management LLC acquired a new position in shares of Sable Offshore during the third quarter worth approximately $31,735,000. State Street Corp increased its holdings in Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock worth $37,557,000 after buying an additional 677,426 shares during the last quarter. GM Advisory Group LLC raised its holdings in shares of 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 purchasing an additional 401,559 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Sable Offshore during the 2nd quarter worth $2,154,000. Finally, Rhumbline Advisers bought a new position in Sable Offshore during the second quarter worth about $862,000. Institutional investors own 26.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group upped their price target on Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Pickering Energy Partners started coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. BWS Financial reissued 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 started coverage on Sable Offshore in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Benchmark reissued a “buy” rating and set a $37.00 price target on shares of Sable Offshore in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Sable Offshore Stock Performance

Shares of NYSE SOC opened at $23.85 on Friday. The company’s 50-day moving average is $21.88 and its 200 day moving average is $19.33. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year high of $28.67.

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.