Traders Purchase Large Volume of Sable Offshore Call Options (NYSE:SOC)

Sable Offshore Corp. (NYSE:SOC - Get Free Report) was the target of unusually large options trading activity on Wednesday. Traders bought 9,286 call options on the stock. This represents an increase of 164% compared to the typical volume of 3,514 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Sable Offshore by 42.0% in the fourth quarter. SG Americas Securities LLC now owns 24,783 shares of the company's stock valued at $568,000 after buying an additional 7,332 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Sable Offshore by 35.8% during the fourth quarter. Ballentine Partners LLC now owns 17,982 shares of the company's stock worth $412,000 after purchasing an additional 4,743 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Sable Offshore by 81.8% during the fourth 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. ORG Wealth Partners LLC purchased a new stake in shares of Sable Offshore during the fourth quarter worth about $106,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock worth $2,836,000 after purchasing an additional 72,694 shares in the last quarter. Hedge funds and other institutional investors own 26.19% of the company's stock.

Sable Offshore Stock Down 0.0 %

SOC traded down $0.00 on Thursday, reaching $28.25. The stock had a trading volume of 1,719,303 shares, compared to its average volume of 1,190,172. Sable Offshore has a 12-month low of $10.11 and a 12-month high of $29.80. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The business's 50-day moving average price is $22.69 and its two-hundred day moving average price is $20.54.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SOC shares. BWS Financial restated a "sell" rating and set a $6.00 target price on shares of Sable Offshore in a research report on Wednesday, November 27th. Johnson Rice started coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They set a "buy" rating and a $30.00 target price for the company. Benchmark restated a "buy" rating and set a $37.00 target price on shares of Sable Offshore in a research report on Monday, October 7th. Finally, Pickering Energy Partners started coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.00.

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.