Sable Offshore Corp. (NYSE:SOC) Receives Consensus Rating of “Moderate Buy” from Analysts

Sable Offshore Corp. (NYSE:SOC) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat 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 brokerages that have issued a report on the stock in the last year is $25.00.

A number of research firms have weighed in on SOC. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a research note on Monday, October 7th. Pickering Energy Partners started coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, Johnson Rice began coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price objective for the company.

Institutional Investors Weigh In On Sable Offshore

A number of large investors have recently modified their holdings of SOC. Amalgamated Bank purchased a new position in shares of Sable Offshore during the 2nd quarter worth approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sable Offshore by 31.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock worth $179,000 after purchasing an additional 1,830 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Sable Offshore by 9.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,248 shares of the company’s stock valued at $927,000 after buying an additional 3,531 shares during the last quarter. US Bancorp DE increased its holdings in Sable Offshore by 340.4% in the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after buying an additional 3,758 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $106,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Price Performance

Shares of NYSE SOC opened at $22.91 on Friday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $28.67. The company has a 50 day moving average of $22.45 and a 200 day moving average of $19.93.

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.