Y Intercept Hong Kong Ltd Makes New Investment in Sable Offshore Corp. (NYSE:SOC)

Y Intercept Hong Kong Ltd acquired a new stake in Sable Offshore Corp. (NYSE:SOC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,464 shares of the company's stock, valued at approximately $354,000.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company's stock valued at $115,000 after purchasing an additional 3,758 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in Sable Offshore in the third quarter valued at about $296,000. Sentry Investment Management LLC bought a new position in Sable Offshore in the third quarter valued at about $575,000. Covestor Ltd acquired a new position in Sable Offshore during the third quarter worth about $130,000. Finally, Intech Investment Management LLC bought a new position in shares of Sable Offshore in the third quarter worth about $245,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SOC has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and set a $37.00 price target on shares of Sable Offshore in a report on Thursday, February 20th. Pickering Energy Partners started coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an "outperform" rating on the stock. Finally, BWS Financial reiterated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.25.

Sable Offshore Stock Down 1.3 %

NYSE SOC traded down $0.30 during trading hours on Thursday, reaching $23.11. The company's stock had a trading volume of 1,661,750 shares, compared to its average volume of 1,482,938. The firm has a fifty day simple moving average of $25.63 and a 200-day simple moving average of $22.90. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. Sable Offshore Corp. has a 52 week low of $10.11 and a 52 week high of $32.33.

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.