IFP Advisors Inc Invests $81,000 in Sable Offshore Corp. (NYSE:SOC)

IFP Advisors Inc purchased a new position in shares of Sable Offshore Corp. (NYSE:SOC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,526 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOC. ORG Wealth Partners LLC bought a new position in Sable Offshore in the 4th quarter valued at approximately $106,000. US Bancorp DE lifted its stake in Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after purchasing an additional 3,758 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Sable Offshore by 81.8% in 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. Covestor Ltd bought a new position in Sable Offshore in the 3rd quarter valued at approximately $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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.

Sable Offshore Stock Down 8.3 %

Shares of NYSE SOC opened at $23.34 on Thursday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore Corp. has a 52-week low of $10.11 and a 52-week high of $32.33. The firm has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $22.90.

Analyst Ratings Changes

Several equities analysts recently commented on SOC shares. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a research note on Thursday, February 20th. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They issued an “outperform” rating for the company. Finally, BWS Financial restated a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.25.

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.