Diametric Capital LP bought a new stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,921 shares of the company's stock, valued at approximately $479,000.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Sable Offshore by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company's stock worth $79,832,000 after acquiring an additional 665,407 shares during the period. State Street Corp grew its stake in Sable Offshore by 74.3% in the 3rd quarter. State Street Corp now owns 1,589,395 shares of the company's stock valued at $37,557,000 after buying an additional 677,426 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of Sable Offshore during the third quarter worth $31,735,000. Geode Capital Management LLC boosted its holdings in shares of Sable Offshore by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company's stock worth $24,844,000 after acquiring an additional 26,934 shares during the period. Finally, GM Advisory Group LLC boosted its holdings in shares of Sable Offshore by 17.6% in the fourth quarter. GM Advisory Group LLC now owns 600,000 shares of the company's stock worth $13,740,000 after acquiring an additional 90,000 shares during the period. Hedge funds and other institutional investors own 26.19% of the company's stock.
Sable Offshore Price Performance
Sable Offshore stock traded down $3.25 during mid-day trading on Friday, hitting $18.43. 3,705,409 shares of the company traded hands, compared to its average volume of 1,003,356. Sable Offshore Corp. has a one year low of $10.11 and a one year high of $32.33. The stock has a fifty day moving average price of $25.77 and a 200-day moving average price of $23.75. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. BWS Financial reissued a "sell" rating and set a $6.00 price objective on shares of Sable Offshore in a report on Tuesday, March 18th. Benchmark restated a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Pickering Energy Partners began coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an "outperform" rating for the company. Roth Mkm started coverage on shares of Sable Offshore in a research note on Thursday, March 27th. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Roth Capital set a $30.00 price target on shares of Sable Offshore in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sable Offshore has an average rating of "Moderate Buy" and a consensus price target of $27.50.
View Our Latest Stock Analysis on Sable Offshore
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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