Sable Offshore Corp. (NYSE:SOC - Get Free Report) shares dropped 14% during mid-day trading on Friday . The stock traded as low as $18.07 and last traded at $18.64. Approximately 863,410 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 985,350 shares. The stock had previously closed at $21.68.
Analysts Set New Price Targets
A number of brokerages recently weighed in on SOC. 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 Mkm initiated coverage on Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 price target on the stock. BWS Financial reiterated a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Capital set a $30.00 price target on shares of Sable Offshore in a report on Thursday, March 27th. Finally, Benchmark reiterated a "buy" rating on shares of Sable Offshore in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $27.50.
Read Our Latest Stock Report on Sable Offshore
Sable Offshore Stock Up 19.1 %
The company has a 50-day simple moving average of $25.05 and a 200-day simple moving average of $23.52. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50.
Hedge Funds Weigh In On Sable Offshore
A number of large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Sable Offshore in the fourth quarter valued at about $53,000. IFP Advisors Inc acquired a new stake in Sable Offshore in the 4th quarter worth approximately $81,000. ORG Wealth Partners LLC purchased a new stake in Sable Offshore during the 4th quarter worth approximately $106,000. Salem Investment Counselors Inc. increased its stake in Sable Offshore by 81.8% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock valued at $114,000 after purchasing an additional 2,250 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sable Offshore in the fourth quarter worth $144,000. 26.19% of the stock is currently owned by institutional investors.
Sable Offshore Company Profile
(
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.
See Also
Before you consider Sable Offshore, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sable Offshore wasn't on the list.
While Sable Offshore currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for April 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
