New York State Common Retirement Fund Boosts Stock Position in Sable Offshore Corp. (NYSE:SOC)

New York State Common Retirement Fund boosted its holdings in shares of Sable Offshore Corp. (NYSE:SOC) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,800 shares of the company’s stock after purchasing an additional 4,600 shares during the quarter. New York State Common Retirement Fund’s holdings in Sable Offshore were worth $408,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Sable Offshore during the 4th quarter valued at about $106,000. Salem Investment Counselors Inc. increased its stake in Sable Offshore by 81.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock worth $114,000 after acquiring an additional 2,250 shares during the last quarter. US Bancorp DE increased its stake in Sable Offshore by 340.4% during the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after acquiring an additional 3,758 shares during the last quarter. Covestor Ltd purchased a new stake in Sable Offshore during the third quarter valued at approximately $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sable Offshore by 31.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock valued at $179,000 after purchasing an additional 1,830 shares during the last quarter. Institutional investors own 26.19% of the company’s stock.

Analyst Ratings Changes

SOC has been the topic of several analyst reports. Pickering Energy Partners began coverage on Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating on the stock. 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 on the stock. Benchmark restated a “buy” rating and issued a $37.00 target price on shares of Sable Offshore in a report on Thursday, February 20th. Finally, BWS Financial reaffirmed a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.25.

Sable Offshore Trading Down 2.6 %

Sable Offshore stock opened at $25.44 on Wednesday. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The company has a 50 day moving average price of $25.57 and a 200-day moving average price of $22.83. Sable Offshore Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $32.33.

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.