Sable Offshore Corp. (NYSE:SOC - Get Free Report) dropped 2.2% during trading on Monday . The company traded as low as $24.25 and last traded at $24.58. Approximately 87,459 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 946,708 shares. The stock had previously closed at $25.12.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Roth Mkm began coverage on Sable Offshore in a research report on Thursday. They issued a "buy" rating and a $30.00 price target for the company. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an "outperform" rating for the company. Roth Capital raised shares of Sable Offshore to a "strong-buy" rating in a research note on Thursday. Benchmark reiterated a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, BWS Financial restated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a report on Tuesday, March 18th. One equities research 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 stock. Based on data from MarketBeat.com, Sable Offshore presently has an average rating of "Moderate Buy" and an average target price of $27.00.
View Our Latest Stock Report on SOC
Sable Offshore Stock Down 2.8 %
The stock has a 50 day moving average price of $26.10 and a two-hundred day moving average price of $23.69. 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 Trading of Sable Offshore
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Sable Offshore in the fourth quarter valued at approximately $53,000. IFP Advisors Inc acquired a new position in shares of Sable Offshore in the fourth quarter worth $81,000. ORG Wealth Partners LLC acquired a new position in shares of Sable Offshore in the fourth quarter worth $106,000. Salem Investment Counselors Inc. increased its position in shares of Sable Offshore by 81.8% during the fourth 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. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sable Offshore in the fourth quarter valued at $144,000. 26.19% of the stock is currently owned by hedge funds and other institutional investors.
About Sable Offshore
(
Get 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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