BWS Financial Reaffirms Sell Rating for Sable Offshore (NYSE:SOC)

Sable Offshore (NYSE:SOC)‘s stock had its “sell” rating restated by stock analysts at BWS Financial in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $6.00 price target on the stock. BWS Financial’s price objective points to a potential downside of 76.82% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Pickering Energy Partners started coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating for the company. Benchmark restated a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.25.

Sable Offshore Trading Up 1.1 %

SOC opened at $25.88 on Tuesday. Sable Offshore has a fifty-two week low of $10.11 and a fifty-two week high of $32.33. 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 firm’s fifty day moving average is $25.78 and its 200 day moving average is $23.51.

Institutional Investors Weigh In On Sable Offshore

A number of hedge funds have recently made changes to their positions in SOC. Summit Securities Group LLC bought a new stake in Sable Offshore in the 4th quarter worth approximately $53,000. IFP Advisors Inc bought a new stake in Sable Offshore in the fourth quarter worth $81,000. ORG Wealth Partners LLC purchased a new stake in Sable Offshore during the fourth quarter valued at $106,000. Salem Investment Counselors Inc. raised its stake in Sable Offshore by 81.8% during the fourth 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 in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Sable Offshore during the fourth quarter valued at $144,000. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

About Sable Offshore

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.