Swiss National Bank Buys 16,800 Shares of Sable Offshore Corp. (NYSE:SOC)

Swiss National Bank grew its stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 35.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,200 shares of the company's stock after buying an additional 16,800 shares during the period. Swiss National Bank owned approximately 0.07% of Sable Offshore worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Himalaya Capital Management LLC acquired a new stake in shares of Sable Offshore in the 3rd quarter valued at approximately $31,735,000. State Street Corp increased its stake in Sable Offshore by 74.3% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sable Offshore by 27.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,042 shares of the company's stock worth $11,291,000 after purchasing an additional 107,475 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock worth $2,836,000 after purchasing an additional 72,694 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at $1,562,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Sable Offshore Stock Up 2.2 %

Shares of SOC stock traded up $0.56 during trading on Wednesday, reaching $26.17. The company's stock had a trading volume of 697,696 shares, compared to its average volume of 977,416. Sable Offshore Corp. has a one year low of $10.11 and a one year high of $32.33. The business has a fifty day moving average price of $26.10 and a 200-day moving average price of $23.82. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50.

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Analyst Upgrades and Downgrades

SOC has been the topic of several recent analyst reports. Roth Capital upgraded Sable Offshore to a "strong-buy" rating in a report on Thursday, March 27th. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They issued an "outperform" rating on the stock. Roth Mkm started coverage on shares of Sable Offshore in a research report on Thursday, March 27th. They set a "buy" rating and a $30.00 price objective for the company. Benchmark reaffirmed a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, BWS Financial reiterated a "sell" rating and set a $6.00 target price on shares of Sable Offshore in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Sable Offshore Company Profile

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.