Sable Offshore (NYSE:SOC) Receives “Sell” Rating from BWS Financial

BWS Financial reissued their sell rating on shares of Sable Offshore (NYSE:SOC) in a report released on Tuesday morning,Benzinga reports. They currently have a $6.00 target price on the stock.

Several other equities analysts have also recently weighed in on SOC. Pickering Energy Partners started coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Sable Offshore Price Performance

Shares of NYSE SOC opened at $25.76 on Tuesday. 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 business has a fifty day moving average price of $25.72 and a two-hundred day moving average price of $23.49. Sable Offshore has a fifty-two week low of $10.11 and a fifty-two week high of $32.33.

Hedge Funds Weigh In On Sable Offshore

A number of institutional investors have recently modified their holdings of SOC. Intech Investment Management LLC acquired a new position in shares of Sable Offshore during the 3rd quarter worth $245,000. Charles Schwab Investment Management Inc. increased its holdings in Sable Offshore by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock worth $9,111,000 after purchasing an additional 21,794 shares in the last quarter. GM Advisory Group LLC increased its holdings in 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 in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Sable Offshore in the 3rd quarter worth about $659,000. Finally, BNP Paribas Financial Markets increased its holdings in Sable Offshore by 127.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,413 shares of the company’s stock worth $837,000 after purchasing an additional 19,847 shares in the last quarter. Institutional investors and hedge funds own 26.19% of the company’s stock.

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.