Analysts Set Sable Offshore Corp. (NYSE:SOC) Target Price at $25.00

Shares of Sable Offshore Corp. (NYSE:SOC) have earned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

Several brokerages have recently issued reports on SOC. Benchmark reiterated a “buy” rating and set a $37.00 price target on shares of Sable Offshore in a report on Monday, October 7th. 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. Johnson Rice assumed coverage on shares of Sable Offshore in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price target for the company. Finally, Pickering Energy Partners assumed coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company.

Sable Offshore Stock Down 3.8 %

Shares of NYSE:SOC opened at $21.89 on Friday. The company has a fifty day moving average of $22.47 and a 200-day moving average of $20.06. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. Sable Offshore has a 52-week low of $10.11 and a 52-week high of $28.67.

Institutional Trading of Sable Offshore

A number of institutional investors and hedge funds have recently bought and sold shares of SOC. Himalaya Capital Management LLC acquired a new stake in Sable Offshore in the third quarter valued at $31,735,000. State Street Corp boosted its position in Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock valued at $37,557,000 after acquiring an additional 677,426 shares during the last quarter. GM Advisory Group LLC boosted its position in Sable Offshore by 370.3% during the third quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock valued at $12,051,000 after acquiring an additional 401,559 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Sable Offshore during the second quarter valued at $2,154,000. Finally, JPMorgan Chase & Co. boosted its position in Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock valued at $2,836,000 after acquiring an additional 72,694 shares during the last quarter. 26.19% of the stock is currently owned by institutional investors and hedge funds.

About Sable Offshore

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.