Sable Offshore (NYSE:SOC) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm started coverage on shares of Sable Offshore (NYSE:SOC) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Benchmark reissued a “buy” rating on shares of Sable Offshore in a research report on Tuesday, March 18th. BWS Financial reissued a “sell” rating and set a $6.00 target price on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, Pickering Energy Partners initiated coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Sable Offshore Trading Up 0.0 %

NYSE SOC opened at $26.17 on Thursday. The firm has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $23.69. Sable Offshore has a 12-month low of $10.11 and a 12-month high of $32.33. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Hedge Funds Weigh In On Sable Offshore

A number of institutional investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in Sable Offshore in the fourth quarter valued at about $53,000. IFP Advisors Inc acquired a new stake in shares of Sable Offshore in the 4th quarter valued at approximately $81,000. ORG Wealth Partners LLC bought a new stake in shares of Sable Offshore during the 4th quarter valued at approximately $106,000. Salem Investment Counselors Inc. grew its holdings in shares of Sable Offshore by 81.8% during the 4th 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 during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sable Offshore during the 4th quarter worth approximately $144,000. 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.