Sable Offshore Corp. (NYSE:SOC) Receives $25.00 Average Price Target from Analysts

Sable Offshore Corp. (NYSE:SOC) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $25.00.

Several equities analysts have recently commented on SOC shares. Jefferies Financial Group raised their price target on Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. BWS Financial reissued a “sell” rating and set a $6.00 target price on shares of Sable Offshore in a research report on Wednesday, November 27th. Pickering Energy Partners started coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They issued an “outperform” rating for the company. 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 objective on the stock. Finally, Benchmark restated a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a report on Monday, October 7th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GM Advisory Group LLC boosted its stake in Sable Offshore by 370.3% in 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 in the last quarter. Corsair Capital Management L.P. purchased a new stake in shares of Sable Offshore during the 3rd quarter valued at $591,000. Sentry Investment Management LLC acquired a new stake in shares of Sable Offshore in the 3rd quarter worth $575,000. Pekin Hardy Strauss Inc. purchased a new position in Sable Offshore during the 3rd quarter worth $659,000. Finally, State Street Corp increased its position in Sable Offshore by 74.3% during the 3rd quarter. State Street Corp now owns 1,589,395 shares of the company’s stock valued at $37,557,000 after buying an additional 677,426 shares in the last quarter. Institutional investors own 26.19% of the company’s stock.

Sable Offshore Stock Up 1.1 %

SOC opened at $22.52 on Tuesday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The stock’s fifty day moving average is $21.69 and its two-hundred day moving average is $19.22. Sable Offshore has a 52 week low of $10.11 and a 52 week high of $28.67.

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.