Sable Offshore Corp. (NYSE:SOC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,486,126 shares of the company's stock after buying an additional 665,407 shares during the period. Vanguard Group Inc. owned 3.91% of Sable Offshore worth $79,832,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position 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. Americana Partners LLC acquired a new stake in shares of Sable Offshore in the fourth quarter valued at about $309,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Sable Offshore in the fourth quarter valued at about $354,000. Raymond James Financial Inc. purchased a new position in shares of Sable Offshore in the fourth quarter worth about $1,177,000. Finally, Bleakley Financial Group LLC acquired a new position in Sable Offshore during the fourth quarter worth about $1,562,000. Institutional investors and hedge funds own 26.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SOC shares. Roth Mkm assumed coverage on Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price on the stock. Benchmark restated a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Pickering Energy Partners started coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. Roth Capital set a $30.00 price objective on shares of Sable Offshore in a report on Thursday, March 27th. Finally, BWS Financial reissued a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.50.

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Sable Offshore Stock Up 4.2 %

Shares of NYSE:SOC traded up $0.77 during mid-day trading on Monday, reaching $19.32. 1,180,268 shares of the company were exchanged, compared to its average volume of 1,064,261. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year high of $32.33. 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 firm's 50-day simple moving average is $24.76 and its 200 day simple moving average is $23.43.

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.