Geode Capital Management LLC Has $24.84 Million Stock Holdings in Sable Offshore Corp. (NYSE:SOC)

Geode Capital Management LLC grew its position in Sable Offshore Corp. (NYSE:SOC - Free Report) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,051,177 shares of the company's stock after acquiring an additional 26,934 shares during the period. Geode Capital Management LLC owned about 1.62% of Sable Offshore worth $24,844,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SOC. Amalgamated Bank bought a new stake in Sable Offshore in the 2nd quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 purchasing an additional 1,830 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sable Offshore by 9.9% during the 3rd 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 buying an additional 3,531 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Sable Offshore by 340.4% during the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company's stock worth $115,000 after buying an additional 3,758 shares during the period. Finally, Covestor Ltd acquired a new position in Sable Offshore in the 3rd quarter valued at about $130,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOC. Benchmark reaffirmed a "buy" rating and issued a $37.00 price objective on shares of Sable Offshore in a report on Monday, October 7th. Jefferies Financial Group increased their price objective on shares of Sable Offshore from $19.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. BWS Financial restated a "sell" rating and issued a $6.00 target price on shares of Sable Offshore in a research report on Wednesday, November 27th. Pickering Energy Partners began coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. Finally, Johnson Rice assumed coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They set a "buy" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Sable Offshore Stock Up 0.3 %

SOC stock traded up $0.06 during trading on Friday, reaching $23.85. 761,098 shares of the company were exchanged, compared to its average volume of 662,770. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. The company has a 50-day moving average of $21.95 and a two-hundred day moving average of $19.39. Sable Offshore Corp. has a twelve month low of $10.11 and a twelve month high of $28.67.

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.