Sentry Investment Management LLC Sells 3,410 Shares of Sable Offshore Corp. (NYSE:SOC)

Sentry Investment Management LLC reduced its holdings in shares of Sable Offshore Corp. (NYSE:SOC) by 14.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,944 shares of the company’s stock after selling 3,410 shares during the period. Sentry Investment Management LLC’s holdings in Sable Offshore were worth $480,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Sable Offshore by 153.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock valued at $2,836,000 after buying an additional 72,694 shares during the period. Americana Partners LLC purchased a new position in shares of Sable Offshore during the fourth quarter worth approximately $309,000. Bleakley Financial Group LLC bought a new stake in shares of Sable Offshore during the fourth quarter valued at approximately $1,562,000. Barclays PLC boosted its holdings in shares of 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 purchasing an additional 60,065 shares during the period. Finally, GM Advisory Group LLC boosted its holdings in shares of Sable Offshore by 370.3% in 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. Institutional investors own 26.19% of the company’s stock.

Analyst Ratings Changes

SOC has been the subject of several research reports. BWS Financial reiterated a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th. Johnson Rice assumed coverage on shares of Sable Offshore in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price objective for the company. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a research report on Thursday, February 20th. Finally, Pickering Energy Partners started coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. One investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Sable Offshore Trading Up 3.0 %

Shares of SOC stock opened at $29.35 on Tuesday. The stock’s 50-day moving average is $24.93 and its 200 day moving average is $22.36. Sable Offshore Corp. 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.

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.