Sable Offshore (NYSE:SOC) Rating Increased to Strong-Buy at Roth Capital

Sable Offshore (NYSE:SOC) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on SOC. Pickering Energy Partners began coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating on the stock. BWS Financial reiterated a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Mkm initiated coverage on shares of Sable Offshore in a research note on Thursday. They set a “buy” rating and a $30.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Sable Offshore Stock Performance

NYSE SOC opened at $26.17 on Thursday. The company has a 50-day moving average price of $26.10 and a two-hundred day moving average price of $23.69. Sable Offshore has a 52 week low of $10.11 and a 52 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.

Institutional Investors Weigh In On Sable Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of SOC. California State Teachers Retirement System grew its stake in shares of Sable Offshore by 29.0% in the 4th quarter. California State Teachers Retirement System now owns 31,856 shares of the company’s stock worth $730,000 after purchasing an additional 7,152 shares during the last quarter. Toronto Dominion Bank bought a new stake in Sable Offshore during the fourth quarter worth approximately $344,000. GF Fund Management CO. LTD. acquired a new position in Sable Offshore in the fourth quarter worth approximately $451,000. Two Seas Capital LP bought a new position in shares of Sable Offshore in the fourth quarter valued at $3,630,000. Finally, Rafferty Asset Management LLC lifted its position in shares of Sable Offshore by 377.5% during the 4th quarter. Rafferty Asset Management LLC now owns 119,765 shares of the company’s stock valued at $2,743,000 after acquiring an additional 94,684 shares during the last quarter. 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.