Y Intercept Hong Kong Ltd Buys Shares of 15,464 Sable Offshore Corp. (NYSE:SOC)

Y Intercept Hong Kong Ltd purchased a new stake in Sable Offshore Corp. (NYSE:SOC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,464 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new stake in shares of Sable Offshore in the 4th quarter worth approximately $106,000. Salem Investment Counselors Inc. lifted its holdings in shares of Sable Offshore by 81.8% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock valued at $114,000 after purchasing an additional 2,250 shares in the last quarter. US Bancorp DE boosted its position in shares of Sable Offshore by 340.4% in the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after buying an additional 3,758 shares during the period. Covestor Ltd purchased a new position in shares of Sable Offshore during the third quarter valued at $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sable Offshore by 31.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock valued at $179,000 after buying an additional 1,830 shares during the period. Institutional investors own 26.19% of the company’s stock.

Sable Offshore Stock Performance

NYSE SOC opened at $26.11 on Tuesday. Sable Offshore Corp. has a twelve month low of $10.11 and a twelve month high of $32.33. The firm has a 50-day simple moving average of $25.50 and a 200 day simple moving average of $22.75. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SOC shares. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a research note on Thursday, February 20th. BWS Financial reiterated a “sell” rating and issued a $6.00 price objective on shares of Sable Offshore in a report on Wednesday, November 27th. Johnson Rice initiated coverage on Sable Offshore in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Pickering Energy Partners started coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.25.

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.