Americana Partners LLC Makes New $309,000 Investment in Sable Offshore Corp. (NYSE:SOC)

Americana Partners LLC purchased a new stake in Sable Offshore Corp. (NYSE:SOC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,491 shares of the company's stock, valued at approximately $309,000.

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

Analysts Set New Price Targets

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

Sable Offshore Stock Performance

Shares of Sable Offshore stock traded down $0.93 on Friday, hitting $28.47. The company had a trading volume of 1,283,093 shares, compared to its average volume of 1,466,893. Sable Offshore Corp. has a 52 week low of $10.11 and a 52 week high of $32.33. The business has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $22.04. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

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.