Barclays PLC Acquires 60,065 Shares of Sable Offshore Corp. (NYSE:SOC)

Barclays PLC grew its stake in Sable Offshore Corp. (NYSE:SOC) by 342.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,583 shares of the company’s stock after acquiring an additional 60,065 shares during the quarter. Barclays PLC’s holdings in Sable Offshore were worth $1,832,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SOC. State Street Corp boosted its position in shares of 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 buying an additional 677,426 shares during the last quarter. Himalaya Capital Management LLC bought a new position in Sable Offshore during the third quarter valued at approximately $31,735,000. GM Advisory Group LLC lifted 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings in Sable Offshore by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock worth $9,111,000 after purchasing an additional 21,794 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sable Offshore in the second quarter worth $2,154,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Stock Up 0.3 %

SOC opened at $23.85 on Friday. Sable Offshore Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $28.67. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The company has a fifty day moving average of $21.88 and a 200 day moving average of $19.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Johnson Rice assumed coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price target for the company. Pickering Energy Partners started coverage on Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Sable Offshore in a research note on Monday, October 7th. Jefferies Financial Group lifted their price objective on Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, BWS Financial reissued a “sell” rating and issued a $6.00 price objective on shares of Sable Offshore in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

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.