Charles Schwab Investment Management Inc. boosted its position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,042 shares of the company's stock after buying an additional 107,475 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of Sable Offshore worth $11,291,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in SOC. IFP Advisors Inc purchased a new stake in shares of Sable Offshore during the fourth quarter worth approximately $81,000. ORG Wealth Partners LLC purchased a new stake in shares of Sable Offshore during the fourth quarter worth $106,000. Salem Investment Counselors Inc. raised its position in shares of Sable Offshore by 81.8% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock valued at $114,000 after buying an additional 2,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $179,000 after buying an additional 1,830 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new position in Sable Offshore during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 26.19% of the company's stock.
Sable Offshore Trading Up 1.7 %
NYSE:SOC traded up $0.43 on Tuesday, reaching $26.32. The company's stock had a trading volume of 1,028,432 shares, compared to its average volume of 952,085. Sable Offshore Corp. has a 12-month low of $10.11 and a 12-month high of $32.33. The stock has a 50 day moving average price of $25.96 and a 200 day moving average price of $23.62. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Pickering Energy Partners started coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They issued an "outperform" rating on the stock. BWS Financial reissued a "sell" rating and set a $6.00 price objective on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Benchmark reaffirmed a "buy" rating on shares of Sable Offshore in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $26.25.
View Our Latest Report on Sable Offshore
Sable Offshore Profile
(
Free Report)
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.
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