Sable Offshore Corp. (NYSE:SOC) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in shares of Sable Offshore Corp. (NYSE:SOC) by 42.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,783 shares of the company’s stock after buying an additional 7,332 shares during the quarter. SG Americas Securities LLC’s holdings in Sable Offshore were worth $568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Himalaya Capital Management LLC acquired a new stake in Sable Offshore in the third quarter valued at approximately $31,735,000. State Street Corp raised its holdings in shares of Sable Offshore by 74.3% in the 3rd quarter. State Street Corp now owns 1,589,395 shares of the company’s stock valued at $37,557,000 after purchasing an additional 677,426 shares in 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 valued at $12,051,000 after purchasing an additional 401,559 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sable Offshore by 153.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock worth $2,836,000 after purchasing an additional 72,694 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Sable Offshore by 342.9% during the third quarter. Barclays PLC now owns 77,583 shares of the company’s stock worth $1,832,000 after purchasing an additional 60,065 shares in the last quarter. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Analysts Set New Price Targets

SOC has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a research note on Monday, October 7th. Pickering Energy Partners initiated coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating for the company. 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. 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. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sable Offshore currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Sable Offshore Stock Down 0.4 %

SOC stock opened at $24.88 on Friday. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. The business has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $21.02. Sable Offshore Corp. has a twelve month low of $10.11 and a twelve month high of $29.80.

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.