Sable Offshore (NYSE:SOC) Upgraded at Roth Capital

Roth Capital upgraded shares of Sable Offshore (NYSE:SOC) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Benchmark reiterated a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. Pickering Energy Partners began coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. BWS Financial reissued a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Roth Mkm initiated coverage on Sable Offshore in a research note on Thursday. They issued a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Sable Offshore Price Performance

SOC stock opened at $25.95 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. The company has a 50 day simple moving average of $26.13 and a 200 day simple moving average of $23.73. Sable Offshore has a 1 year low of $10.11 and a 1 year high of $32.33.

Institutional Trading of Sable Offshore

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Sable Offshore by 2.7% during the fourth quarter. Invesco Ltd. now owns 26,030 shares of the company’s stock worth $596,000 after buying an additional 679 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sable Offshore by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,720 shares of the company’s stock valued at $658,000 after acquiring an additional 1,000 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Sable Offshore by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 31,240 shares of the company’s stock worth $715,000 after acquiring an additional 1,634 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sable Offshore by 31.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock worth $179,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Sable Offshore by 81.8% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock valued at $114,000 after purchasing an additional 2,250 shares during the period. 26.19% of the stock is currently owned by institutional investors.

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.