BBR Partners LLC Buys 49,842 Shares of Sable Offshore Corp. (NYSE:SOC)

BBR Partners LLC increased its position in Sable Offshore Corp. (NYSE:SOC - Free Report) by 332.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,842 shares of the company's stock after acquiring an additional 49,842 shares during the period. BBR Partners LLC owned about 0.07% of Sable Offshore worth $1,485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Freestone Capital Holdings LLC purchased a new position in Sable Offshore in the fourth quarter worth about $687,000. Raymond James Financial Inc. bought a new position in shares of Sable Offshore in the 4th quarter worth approximately $1,177,000. Arizona State Retirement System purchased a new position in shares of Sable Offshore in the fourth quarter worth approximately $217,000. M&T Bank Corp bought a new stake in Sable Offshore during the fourth quarter valued at approximately $495,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Sable Offshore by 27.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,042 shares of the company's stock valued at $11,291,000 after buying an additional 107,475 shares during the last quarter. Hedge funds and other institutional investors own 26.19% of the company's stock.

Sable Offshore Stock Up 1.4 %

NYSE SOC traded up $0.32 on Tuesday, reaching $22.95. 1,006,407 shares of the stock were exchanged, compared to its average volume of 1,477,270. Sable Offshore Corp. has a one year low of $10.11 and a one year high of $32.33. The company's 50-day simple moving average is $25.60 and its two-hundred day simple moving average is $23.13. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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. Benchmark reaffirmed a "buy" rating and issued a $37.00 target price on shares of Sable Offshore in a report on Thursday, February 20th. Finally, Pickering Energy Partners initiated coverage on 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 four have assigned a buy rating to the company's stock. According to MarketBeat.com, Sable Offshore presently has an average rating of "Moderate Buy" and a consensus target price of $26.25.

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.