Sable Offshore (NYSE:SOC) Now Covered by Analysts at Roth Mkm

Roth Mkm initiated coverage on shares of Sable Offshore (NYSE:SOC) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $30.00 price target on the stock.

Other research analysts have also issued reports about the company. BWS Financial restated a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. Pickering Energy Partners began coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sable Offshore currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Sable Offshore Price Performance

SOC stock opened at $25.95 on Thursday. Sable Offshore has a twelve month low of $10.11 and a twelve month high of $32.33. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. The business’s 50-day simple moving average is $26.13 and its 200 day simple moving average is $23.73.

Institutional Trading of Sable Offshore

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in Sable Offshore by 29.0% in the 4th quarter. California State Teachers Retirement System now owns 31,856 shares of the company’s stock valued at $730,000 after buying an additional 7,152 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Sable Offshore in the fourth quarter worth about $344,000. GF Fund Management CO. LTD. bought a new stake in Sable Offshore during the 4th quarter worth about $451,000. Two Seas Capital LP acquired a new position in Sable Offshore during the 4th quarter valued at about $3,630,000. Finally, Rafferty Asset Management LLC boosted its stake in shares of Sable Offshore by 377.5% in the 4th quarter. Rafferty Asset Management LLC now owns 119,765 shares of the company’s stock valued at $2,743,000 after purchasing an additional 94,684 shares during the last quarter. 26.19% of the stock is 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.