Bleakley Financial Group LLC purchased a new stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,216 shares of the company's stock, valued at approximately $1,562,000. Bleakley Financial Group LLC owned 0.08% of Sable Offshore as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in SOC. The Manufacturers Life Insurance Company bought a new stake in Sable Offshore in the 2nd quarter valued at about $324,000. SG Americas Securities LLC bought a new position in Sable Offshore in the 3rd quarter worth approximately $412,000. Allspring Global Investments Holdings LLC purchased a new position in Sable Offshore in the 3rd quarter valued at approximately $406,000. Ballentine Partners LLC purchased a new stake in shares of Sable Offshore during the third quarter worth $313,000. Finally, US Bancorp DE lifted its holdings in Sable Offshore by 340.4% during 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 in the last quarter. Hedge funds and other institutional investors own 26.19% of the company's stock.
Sable Offshore Stock Up 7.3 %
Shares of Sable Offshore stock traded up $1.68 during midday trading on Tuesday, hitting $24.82. The company had a trading volume of 2,298,045 shares, compared to its average volume of 1,222,324. The company has a 50 day moving average of $23.31 and a 200 day moving average of $21.46. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore Corp. has a 52-week low of $10.11 and a 52-week high of $29.80.
Wall Street Analyst Weigh In
SOC has been the subject of several research analyst reports. Johnson Rice assumed coverage on Sable Offshore in a research note on Tuesday, November 5th. They set a "buy" rating and a $30.00 price objective for the company. BWS Financial restated a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a report on Wednesday, November 27th. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a research note 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.00.
Read Our Latest Stock Analysis on SOC
About Sable Offshore
(
Free Report)
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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