Roth Mkm Begins Coverage on Sable Offshore (NYSE:SOC)

Equities research analysts at Roth Mkm began coverage on shares of Sable Offshore (NYSE:SOC - Get Free Report) in a report released on Thursday, Marketbeat reports. The firm set a "buy" rating and a $30.00 price target on the stock. Roth Mkm's price objective would indicate a potential upside of 15.62% from the stock's previous close.

Several other brokerages also recently issued reports on SOC. Benchmark reissued a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Pickering Energy Partners initiated coverage on Sable Offshore in a report on Tuesday, December 17th. They set an "outperform" rating for the company. Finally, BWS Financial restated a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a report on Tuesday, March 18th. One 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Sable Offshore Price Performance

Shares of SOC traded down $0.18 on Thursday, hitting $25.95. The company's stock had a trading volume of 559,915 shares, compared to its average volume of 972,796. The firm's fifty day moving average price is $26.13 and its 200-day moving average price is $23.73. Sable Offshore has a fifty-two week low of $10.11 and a fifty-two week high of $32.33. 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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Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOC. Invesco Ltd. grew its stake in shares of Sable Offshore by 2.7% in the fourth quarter. Invesco Ltd. now owns 26,030 shares of the company's stock valued at $596,000 after buying an additional 679 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sable Offshore by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,720 shares of the company's stock worth $658,000 after buying an additional 1,000 shares during the last quarter. MetLife Investment Management LLC raised its stake in Sable Offshore by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 31,240 shares of the company's stock valued at $715,000 after buying an additional 1,634 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 buying an additional 1,830 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Sable Offshore by 81.8% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock worth $114,000 after acquiring an additional 2,250 shares during the period. Institutional investors and hedge funds own 26.19% of the company's stock.

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.