Swiss National Bank Purchases 16,800 Shares of Sable Offshore Corp. (NYSE:SOC)

Swiss National Bank lifted its position in shares of Sable Offshore Corp. (NYSE:SOC) by 35.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,200 shares of the company’s stock after acquiring an additional 16,800 shares during the quarter. Swiss National Bank’s holdings in Sable Offshore were worth $1,470,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Sable Offshore by 153.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock worth $2,836,000 after purchasing an additional 72,694 shares during the last quarter. Americana Partners LLC acquired a new stake in shares of Sable Offshore during the 4th quarter worth approximately $309,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Sable Offshore during the fourth quarter worth approximately $354,000. Bleakley Financial Group LLC acquired a new position in Sable Offshore in the fourth quarter valued at approximately $1,562,000. Finally, Barclays PLC boosted its stake in Sable Offshore by 342.9% in the third quarter. Barclays PLC now owns 77,583 shares of the company’s stock valued at $1,832,000 after acquiring an additional 60,065 shares during the last quarter. Institutional investors and hedge funds own 26.19% of the company’s stock.

Sable Offshore Price Performance

NYSE SOC opened at $25.95 on Friday. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. The business has a 50 day simple moving average of $26.13 and a 200 day simple moving average of $23.71. Sable Offshore Corp. has a 52-week low of $10.11 and a 52-week high of $32.33.

Wall Street Analysts Forecast Growth

Several analysts have commented on SOC shares. Roth Mkm began coverage on shares of Sable Offshore in a research report on Thursday. They set a “buy” rating and a $30.00 target price for the company. Benchmark restated a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Capital raised Sable Offshore to a “strong-buy” rating in a research note on Thursday. BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.00.

Sable Offshore 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.