Sable Offshore Corp. (NYSE:SOC - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Traders purchased 7,939 call options on the stock. This represents an increase of approximately 78% compared to the typical daily volume of 4,452 call options.
Sable Offshore Trading Down 0.2 %
Shares of SOC stock traded down $0.07 on Monday, reaching $30.56. 2,647,580 shares of the stock were exchanged, compared to its average volume of 1,198,640. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $31.56. The business's 50 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 made changes to their positions in SOC. The Manufacturers Life Insurance Company purchased a new position in Sable Offshore during the 2nd quarter valued at about $324,000. SG Americas Securities LLC acquired a new position in shares of Sable Offshore during the 3rd quarter worth approximately $412,000. Allspring Global Investments Holdings LLC purchased a new stake in Sable Offshore in the 3rd quarter valued at approximately $406,000. Ballentine Partners LLC purchased a new stake in Sable Offshore in the 3rd quarter valued at approximately $313,000. Finally, US Bancorp DE increased its position in Sable Offshore by 340.4% during the third quarter. US Bancorp DE now owns 4,862 shares of the company's stock worth $115,000 after buying an additional 3,758 shares in the last quarter. Institutional investors and hedge funds own 26.19% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on SOC. Pickering Energy Partners began coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an "outperform" rating on the stock. BWS Financial reaffirmed a "sell" rating and set a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th. Finally, Johnson Rice started coverage on shares of Sable Offshore in a report on Tuesday, November 5th. They set a "buy" rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.00.
Check Out Our Latest Report on SOC
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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