Sable Offshore Corp. (NYSE:SOC - Get Free Report)'s share price was up 4% on Tuesday . The stock traded as high as $23.80 and last traded at $24.06. Approximately 104,816 shares were traded during trading, a decline of 91% from the average daily volume of 1,139,440 shares. The stock had previously closed at $23.14.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on SOC shares. Pickering Energy Partners started coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an "outperform" rating on the stock. BWS Financial reiterated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research note on Wednesday, November 27th. Finally, Johnson Rice started coverage on Sable Offshore in a research note on Tuesday, November 5th. They set 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.
Read Our Latest Stock Analysis on SOC
Sable Offshore Trading Down 0.2 %
The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The business has a 50 day moving average price of $23.39 and a 200 day moving average price of $21.48.
Institutional Trading of Sable Offshore
A number of hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in Sable Offshore in the 4th quarter worth about $53,000. IFP Advisors Inc acquired a new position in Sable Offshore in the 4th quarter worth about $81,000. ORG Wealth Partners LLC acquired a new position in Sable Offshore in the 4th quarter worth about $106,000. Salem Investment Counselors Inc. raised its holdings in Sable Offshore by 81.8% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock worth $114,000 after purchasing an additional 2,250 shares during the period. Finally, US Bancorp DE raised its holdings in Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company's stock worth $115,000 after purchasing an additional 3,758 shares during the period. Hedge funds and other institutional investors own 26.19% of the company's stock.
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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