Shares of Sable Offshore Corp. (NYSE:SOC - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $24.47, but opened at $29.50. Sable Offshore shares last traded at $30.93, with a volume of 1,702,913 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SOC shares. BWS Financial restated a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a report on Wednesday, November 27th. Pickering Energy Partners assumed coverage on Sable Offshore in a research report on Tuesday, December 17th. They issued an "outperform" rating for the company. Finally, Johnson Rice began coverage on Sable Offshore in a research note on Tuesday, November 5th. They issued a "buy" rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.00.
Check Out Our Latest Stock Analysis on SOC
Sable Offshore Trading Down 0.2 %
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 firm's fifty day moving average price is $23.84 and its 200 day moving average price is $21.71.
Institutional Trading of Sable Offshore
Several hedge funds have recently modified their holdings of the company. Himalaya Capital Management LLC bought a new position in shares of Sable Offshore in the 3rd quarter valued at about $31,735,000. Encompass Capital Advisors LLC raised its stake in shares of Sable Offshore by 128.9% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,400,000 shares of the company's stock valued at $32,060,000 after acquiring an additional 788,495 shares during the period. State Street Corp grew its holdings in Sable Offshore by 74.3% during the 3rd quarter. State Street Corp now owns 1,589,395 shares of the company's stock valued at $37,557,000 after purchasing an additional 677,426 shares during the last quarter. Vanguard Group Inc. lifted its stake in Sable Offshore by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company's stock worth $79,832,000 after purchasing an additional 665,407 shares during the last quarter. Finally, GM Advisory Group LLC grew its stake in shares of Sable Offshore by 370.3% during the third quarter. GM Advisory Group LLC now owns 510,000 shares of the company's stock valued at $12,051,000 after buying an additional 401,559 shares during the last quarter. 26.19% of the stock is 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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