Americana Partners LLC Makes New Investment in Sable Offshore Corp. (NYSE:SOC)

Americana Partners LLC purchased a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,491 shares of the company's stock, valued at approximately $309,000.

Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Sable Offshore by 5.0% in the fourth quarter. Rhumbline Advisers now owns 66,413 shares of the company's stock valued at $1,521,000 after acquiring an additional 3,140 shares in the last quarter. Clarus Group Inc. boosted its stake in Sable Offshore by 21.7% in the fourth quarter. Clarus Group Inc. now owns 42,070 shares of the company's stock valued at $963,000 after acquiring an additional 7,488 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Sable Offshore during the fourth quarter worth about $1,562,000. SG Americas Securities LLC grew its holdings in shares of Sable Offshore by 42.0% during the fourth quarter. SG Americas Securities LLC now owns 24,783 shares of the company's stock worth $568,000 after purchasing an additional 7,332 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Sable Offshore by 35.8% in the 4th quarter. Ballentine Partners LLC now owns 17,982 shares of the company's stock valued at $412,000 after purchasing an additional 4,743 shares during the last quarter. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SOC shares. Johnson Rice started coverage on Sable Offshore in a research note on Tuesday, November 5th. They set a "buy" rating and a $30.00 price target on the stock. Benchmark restated a "buy" rating and set a $37.00 target price on shares of Sable Offshore in a research report on Thursday. BWS Financial reiterated a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Wednesday, November 27th. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Sable Offshore has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Remove Ads

Sable Offshore Trading Down 3.1 %

Shares of Sable Offshore stock traded down $0.93 during trading hours on Friday, hitting $28.47. 1,283,093 shares of the company were exchanged, compared to its average volume of 1,596,452. The business has a 50-day moving average of $24.78 and a 200-day moving average of $22.19. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year 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.

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.