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

Sable Offshore Corp. (NYSE:SOC) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $25.00.

Several brokerages recently issued reports on SOC. Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a research note on Monday, October 7th. Pickering Energy Partners began coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. Johnson Rice began coverage on Sable Offshore in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price target for the company. Finally, BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a research note on Wednesday, November 27th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in Sable Offshore by 342.9% during the third quarter. Barclays PLC now owns 77,583 shares of the company’s stock valued at $1,832,000 after purchasing an additional 60,065 shares in the last quarter. GM Advisory Group LLC raised 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 purchasing an additional 401,559 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in Sable Offshore during the third quarter valued at approximately $591,000. Geode Capital Management LLC raised its position in Sable Offshore by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company’s stock valued at $24,844,000 after purchasing an additional 26,934 shares in the last quarter. Finally, State Street Corp raised 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 purchasing an additional 677,426 shares in the last quarter. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Sable Offshore Trading Down 3.8 %

Shares of NYSE:SOC opened at $21.89 on Friday. Sable Offshore has a 12-month low of $10.11 and a 12-month high of $28.67. The business has a 50 day moving average of $22.47 and a 200-day moving average of $20.06. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50.

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.