Sable Offshore (NYSE:SOC) Stock Rating Upgraded by Roth Capital

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

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

Sable Offshore Price Performance

Sable Offshore stock opened at $25.95 on Thursday. The firm’s fifty day moving average price is $26.13 and its two-hundred day moving average price is $23.73. Sable Offshore has a 1-year low of $10.11 and a 1-year high of $32.33. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86.

Institutional Investors Weigh In On Sable Offshore

Institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in shares of Sable Offshore during the fourth quarter valued at about $53,000. IFP Advisors Inc purchased a new position in Sable Offshore during the fourth quarter worth about $81,000. ORG Wealth Partners LLC bought a new position in Sable Offshore in the 4th quarter worth about $106,000. Salem Investment Counselors Inc. raised its holdings 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 acquiring an additional 2,250 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Sable Offshore during the 4th quarter valued at about $144,000. 26.19% of the stock is owned by hedge funds and other 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.