Brokerages Set Sable Offshore Corp. (NYSE:SOC) PT at $27.00

Shares of Sable Offshore Corp. (NYSE:SOC) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $27.00.

SOC has been the subject of a number of research reports. Pickering Energy Partners initiated coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company. Benchmark reiterated a “buy” rating on shares of Sable Offshore in a research note on Tuesday, March 18th. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Mkm started coverage on shares of Sable Offshore in a report on Thursday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Roth Capital raised shares of Sable Offshore to a “strong-buy” rating in a research note on Thursday.

Sable Offshore Trading Down 0.7 %

Shares of NYSE:SOC opened at $25.95 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. The firm’s 50 day moving average price is $26.13 and its 200-day moving average price is $23.73. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $32.33.

Hedge Funds Weigh In On Sable Offshore

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its holdings in shares of Sable Offshore by 29.0% in the fourth quarter. California State Teachers Retirement System now owns 31,856 shares of the company’s stock worth $730,000 after purchasing an additional 7,152 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Sable Offshore during the 4th quarter worth approximately $344,000. GF Fund Management CO. LTD. bought a new position in shares of Sable Offshore in the fourth quarter worth about $451,000. Two Seas Capital LP bought a new position in Sable Offshore in the 4th quarter worth about $3,630,000. Finally, Rafferty Asset Management LLC raised its stake in shares of Sable Offshore by 377.5% during the fourth quarter. Rafferty Asset Management LLC now owns 119,765 shares of the company’s stock valued at $2,743,000 after acquiring an additional 94,684 shares in the last quarter. Institutional investors 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.