32,189 Shares in Sable Offshore Corp. (NYSE:SOC) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC bought 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 filing with the Securities & Exchange Commission. The firm bought 32,189 shares of the company's stock, valued at approximately $737,000. Sable Offshore accounts for approximately 0.3% of EntryPoint Capital LLC's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also added to or reduced their stakes in SOC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sable Offshore by 31.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company's stock valued at $179,000 after acquiring an additional 1,830 shares during the period. Salem Investment Counselors Inc. raised its stake in Sable Offshore by 81.8% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock worth $114,000 after purchasing an additional 2,250 shares in the last quarter. Rhumbline Advisers boosted its holdings in Sable Offshore by 5.0% in the 4th quarter. Rhumbline Advisers now owns 66,413 shares of the company's stock valued at $1,521,000 after purchasing an additional 3,140 shares during the period. IFP Advisors Inc acquired a new position in shares of Sable Offshore during the 4th quarter worth approximately $81,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sable Offshore by 9.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,248 shares of the company's stock worth $927,000 after purchasing an additional 3,531 shares during the period. 26.19% of the stock is owned by institutional investors and hedge funds.

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Sable Offshore Trading Down 0.7 %

Sable Offshore stock traded down $0.18 during mid-day trading on Friday, reaching $25.95. The company had a trading volume of 559,915 shares, compared to its average volume of 972,796. The business has a fifty day simple moving average of $26.13 and a 200 day simple moving average of $23.73. 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 fifty-two week low of $10.11 and a fifty-two week high of $32.33.

Analyst Ratings Changes

SOC has been the topic of a number of analyst reports. Roth Capital raised Sable Offshore to a "strong-buy" rating in a research report on Thursday. Benchmark reissued a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. BWS Financial restated a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Mkm began coverage on shares of Sable Offshore in a research report on Thursday. They set a "buy" rating and a $30.00 price objective for the company. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.