Sable Offshore (NYSE:SOC) Upgraded to "Strong-Buy" at Roth Capital

Sable Offshore (NYSE:SOC - Get Free Report) was upgraded by analysts at Roth Capital to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

SOC has been the subject of a number of other research reports. BWS Financial reaffirmed a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Mkm assumed coverage on shares of Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price for the company. Benchmark reaffirmed a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sable Offshore currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Sable Offshore Trading Up 1.2 %

Shares of Sable Offshore stock traded up $0.32 during trading on Thursday, reaching $25.69. The stock had a trading volume of 197,526 shares, compared to its average volume of 1,344,129. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The stock has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $23.79. Sable Offshore has a 52 week low of $10.11 and a 52 week high of $32.33.

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Institutional Trading of Sable Offshore

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOC. Vanguard Group Inc. increased 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 purchasing an additional 665,407 shares during the last quarter. State Street Corp increased its position in Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company's stock worth $37,557,000 after buying an additional 677,426 shares during the last quarter. Encompass Capital Advisors LLC lifted its position in shares of Sable Offshore by 128.9% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,400,000 shares of the company's stock valued at $32,060,000 after buying an additional 788,495 shares during the last quarter. Himalaya Capital Management LLC bought a new position in shares of Sable Offshore during the 3rd quarter worth approximately $31,735,000. Finally, Geode Capital Management LLC increased its holdings in shares of Sable Offshore by 16.9% during the 4th quarter. Geode Capital Management LLC now owns 1,229,148 shares of the company's stock worth $28,155,000 after acquiring an additional 177,971 shares during the last quarter. 26.19% of the stock is owned by institutional investors.

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.