Sable Offshore Corp. (NYSE:SOC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $31.56 and last traded at $30.60, with a volume of 6778707 shares traded. The stock had previously closed at $24.47.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SOC. BWS Financial reaffirmed a "sell" rating and set a $6.00 price objective on shares of Sable Offshore in a research report on Wednesday, November 27th. Johnson Rice assumed coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a "buy" rating and a $30.00 target price for the company. Finally, Pickering Energy Partners assumed coverage on Sable Offshore in a research report on Tuesday, December 17th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sable Offshore presently has a consensus rating of "Moderate Buy" and an average target price of $25.00.
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Sable Offshore Stock Performance
The firm has a fifty day moving average price of $24.04 and a 200 day moving average price of $21.81. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Sable Offshore in the third quarter worth about $406,000. Ballentine Partners LLC acquired a new position in shares of Sable Offshore during the third quarter valued at $313,000. US Bancorp DE boosted its holdings in Sable Offshore by 340.4% in the third quarter. US Bancorp DE now owns 4,862 shares of the company's stock valued at $115,000 after acquiring an additional 3,758 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in Sable Offshore in the third quarter worth about $296,000. Finally, Sentry Investment Management LLC bought a new stake in Sable Offshore during the 3rd quarter worth about $575,000. Institutional investors and hedge funds own 26.19% of the company's stock.
Sable Offshore Company Profile
(
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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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