Benchmark restated their buy rating on shares of Sable Offshore (NYSE:SOC - Free Report) in a research report released on Thursday,Benzinga reports. They currently have a $37.00 price target on the stock.
A number of other equities analysts also recently commented on the stock. BWS Financial reissued a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a research note on Wednesday, November 27th. Pickering Energy Partners initiated coverage on Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. Finally, Johnson Rice initiated coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a "buy" rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sable Offshore presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.
Check Out Our Latest Analysis on SOC
Sable Offshore Price Performance
NYSE:SOC traded down $0.93 during trading hours on Thursday, reaching $28.47. The company's stock had a trading volume of 1,283,093 shares, compared to its average volume of 1,466,893. Sable Offshore has a 12 month low of $10.11 and a 12 month high of $32.33. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The stock has a 50 day moving average price of $24.78 and a two-hundred day moving average price of $22.13.
Hedge Funds Weigh In On Sable Offshore
A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sable Offshore during the third quarter valued at $406,000. Ballentine Partners LLC purchased a new stake in shares of Sable Offshore during the third quarter valued at $313,000. US Bancorp DE grew its holdings in shares of Sable Offshore by 340.4% during the third quarter. US Bancorp DE now owns 4,862 shares of the company's stock valued at $115,000 after buying an additional 3,758 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in shares of Sable Offshore during the third quarter valued at $296,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Sable Offshore during the third quarter valued at $575,000. 26.19% of the stock is owned by institutional investors and hedge funds.
About Sable Offshore
(
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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.
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