Barclays PLC Raises Holdings in Sable Offshore Corp. (NYSE:SOC)

Barclays PLC lifted its position in Sable Offshore Corp. (NYSE:SOC - Free Report) by 342.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,583 shares of the company's stock after buying an additional 60,065 shares during the period. Barclays PLC owned about 0.12% of Sable Offshore worth $1,832,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in Sable Offshore during the 2nd quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Sable Offshore during the 2nd quarter valued at about $86,000. US Bancorp DE lifted its stake in shares of Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company's stock worth $115,000 after purchasing an additional 3,758 shares during the period. Covestor Ltd purchased a new position in shares of Sable Offshore in the third quarter worth approximately $130,000. Finally, Spartan Fund Management Inc. bought a new stake in Sable Offshore during the second quarter valued at approximately $162,000. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

Sable Offshore Stock Performance

Shares of Sable Offshore stock traded up $0.06 during trading hours on Friday, hitting $23.85. The company's stock had a trading volume of 761,098 shares, compared to its average volume of 662,770. 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 Corp. has a 12-month low of $10.11 and a 12-month high of $28.67. The business has a 50 day moving average price of $21.95 and a two-hundred day moving average price of $19.39.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $37.00 price target on shares of Sable Offshore in a research report on Monday, October 7th. Johnson Rice began coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a "buy" rating and a $30.00 target price on the stock. BWS Financial restated a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on Sable Offshore from $19.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Finally, Pickering Energy Partners started coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Sable Offshore has a consensus rating of "Moderate Buy" and an average target price of $25.00.

Sable Offshore 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.