Capital Fund Management S.A. Makes New $2.32 Million Investment in Sable Offshore Corp. (NYSE:SOC)

Capital Fund Management S.A. bought a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 101,342 shares of the company's stock, valued at approximately $2,321,000. Capital Fund Management S.A. owned approximately 0.11% of Sable Offshore at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its position in Sable Offshore by 2.7% in the 4th quarter. Invesco Ltd. now owns 26,030 shares of the company's stock valued at $596,000 after buying an additional 679 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Sable Offshore by 81.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock worth $114,000 after purchasing an additional 2,250 shares during the last quarter. Summit Securities Group LLC bought a new position in Sable Offshore in the fourth quarter valued at $53,000. Legal & General Group Plc increased its stake in Sable Offshore by 7.2% in the 4th quarter. Legal & General Group Plc now owns 43,284 shares of the company's stock valued at $991,000 after buying an additional 2,890 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Sable Offshore by 5.0% during the 4th quarter. Rhumbline Advisers now owns 66,413 shares of the company's stock worth $1,521,000 after buying an additional 3,140 shares in the last quarter. Institutional investors and hedge funds own 26.19% of the company's stock.

Sable Offshore Stock Up 3.1 %

Shares of SOC traded up $0.61 during mid-day trading on Friday, reaching $20.22. 2,438,025 shares of the company were exchanged, compared to its average volume of 1,093,832. The business has a 50 day simple moving average of $24.44 and a two-hundred day simple moving average of $23.27. Sable Offshore Corp. has a 52 week low of $10.26 and a 52 week 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SOC shares. Roth Mkm began coverage on shares of Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price on the stock. Benchmark reaffirmed a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. BWS Financial reissued a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Roth Capital set a $30.00 target price on Sable Offshore in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

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.