Sable Offshore Corp. (NYSE:SOC) Receives $27.00 Consensus PT from Brokerages

Sable Offshore Corp. (NYSE:SOC) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings 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 12 month price target among analysts that have issued a report on the stock in the last year is $27.00.

Several equities research analysts recently commented on the stock. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating on the stock. Roth Capital raised shares of Sable Offshore to a “strong-buy” rating in a research report on Thursday, March 27th. Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, Roth Mkm assumed coverage on shares of Sable Offshore in a report on Thursday, March 27th. They issued a “buy” rating and a $30.00 price objective for the company.

Sable Offshore Stock Up 2.2 %

Shares of SOC stock opened at $26.17 on Thursday. The business’s fifty day moving average is $26.10 and its 200 day moving average is $23.82. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $32.33.

Institutional Inflows and Outflows

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