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

Sable Offshore Corp. (NYSE:SOC) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.00.

Several research analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a report on Monday, October 7th. Jefferies Financial Group raised their price target on Sable Offshore from $19.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Pickering Energy Partners assumed coverage on Sable Offshore in a research note on Tuesday. They set an “outperform” rating on the stock. BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a report on Wednesday, November 27th. Finally, Johnson Rice assumed coverage on Sable Offshore in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price for the company.

Sable Offshore Trading Up 13.3 %

Shares of NYSE:SOC opened at $22.26 on Tuesday. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. The company has a 50-day moving average price of $21.57 and a two-hundred day moving average price of $19.03. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $28.67.

Hedge Funds Weigh In On Sable Offshore

A number of institutional investors have recently added to or reduced their stakes in SOC. Amalgamated Bank purchased a new position in shares of Sable Offshore during the second quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Sable Offshore in the 2nd quarter worth approximately $86,000. US Bancorp DE increased its holdings in shares of Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after buying an additional 3,758 shares during the last quarter. Covestor Ltd purchased a new position in shares of Sable Offshore during the third quarter worth approximately $130,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Sable Offshore during the second quarter valued at about $162,000. 26.19% of the stock is currently owned by 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.