HighTower Advisors LLC Invests $330,000 in Sable Offshore Corp. (NYSE:SOC)

HighTower Advisors LLC bought a new stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,400 shares of the company's stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also modified their holdings of SOC. BBR Partners LLC boosted its holdings in shares of Sable Offshore by 332.3% during the 4th quarter. BBR Partners LLC now owns 64,842 shares of the company's stock valued at $1,485,000 after acquiring an additional 49,842 shares during the last quarter. Freestone Capital Holdings LLC purchased a new stake in Sable Offshore in the fourth quarter worth approximately $687,000. Raymond James Financial Inc. purchased a new stake in Sable Offshore during the 4th quarter valued at $1,177,000. Arizona State Retirement System bought a new position in shares of Sable Offshore during the 4th quarter valued at $217,000. Finally, M&T Bank Corp purchased a new position in shares of Sable Offshore in the 4th quarter worth $495,000. Institutional investors own 26.19% of the company's stock.

Sable Offshore Trading Down 15.0 %

Shares of SOC traded down $3.25 during mid-day trading on Friday, reaching $18.43. The stock had a trading volume of 3,705,409 shares, compared to its average volume of 1,003,356. The business has a fifty day moving average of $25.77 and a 200 day moving average of $23.73. 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 12 month low of $10.11 and a 12 month high of $32.33.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Roth Capital set a $30.00 price objective on Sable Offshore in a research report on Thursday, March 27th. BWS Financial reaffirmed a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Benchmark reissued a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Mkm started coverage on shares of Sable Offshore in a research report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price for the company. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sable Offshore currently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Sable Offshore Company Profile

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.