292,572 Shares in Sable Offshore Corp. (NYSE:SOC) Purchased by Emerald Advisers LLC

Emerald Advisers LLC acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 292,572 shares of the company's stock, valued at approximately $6,700,000. Emerald Advisers LLC owned about 0.33% of Sable Offshore as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 665,407 shares during the period. LPL Financial LLC purchased a new stake in shares of Sable Offshore during the fourth quarter worth $312,000. KLP Kapitalforvaltning AS purchased a new stake in Sable Offshore during the 4th quarter worth about $144,000. GM Advisory Group LLC raised its holdings in shares of Sable Offshore by 17.6% in the 4th quarter. GM Advisory Group LLC now owns 600,000 shares of the company's stock valued at $13,740,000 after purchasing an additional 90,000 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Sable Offshore by 35.4% during the 4th quarter. Swiss National Bank now owns 64,200 shares of the company's stock worth $1,470,000 after acquiring an additional 16,800 shares in the last quarter. Hedge funds and other institutional investors own 26.19% of the company's stock.

Sable Offshore Price Performance

Sable Offshore stock traded up $0.00 during midday trading on Thursday, reaching $26.17. The company's stock had a trading volume of 641,495 shares, compared to its average volume of 960,359. Sable Offshore Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $32.33. The stock's 50 day simple moving average is $26.10 and its 200 day simple moving average is $23.69. 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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Analyst Ratings Changes

Several brokerages recently issued reports on SOC. Pickering Energy Partners started coverage on Sable Offshore in a research report on Tuesday, December 17th. They issued an "outperform" rating on the stock. Roth Mkm initiated coverage on shares of Sable Offshore in a report on Thursday. They issued a "buy" rating and a $30.00 target price on the stock. Benchmark reissued a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, BWS Financial restated a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

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.