59,078 Shares in Sable Offshore Corp. (NYSE:SOC) Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,078 shares of the company's stock, valued at approximately $1,499,000. CenterBook Partners LP owned about 0.07% of Sable Offshore as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Sable Offshore by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,685,492 shares of the company's stock worth $93,501,000 after acquiring an additional 199,366 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Sable Offshore by 3,686.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,430 shares of the company's stock valued at $112,000 after buying an additional 4,313 shares in the last quarter. US Bancorp DE boosted its position in shares of Sable Offshore by 62.2% in the first quarter. US Bancorp DE now owns 3,281 shares of the company's stock worth $83,000 after buying an additional 1,258 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sable Offshore by 15.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,419 shares of the company's stock worth $417,000 after buying an additional 2,200 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in shares of Sable Offshore in the first quarter worth about $1,392,000. Institutional investors and hedge funds own 26.19% of the company's stock.

Sable Offshore Price Performance

NYSE:SOC traded up $6.56 during mid-day trading on Thursday, hitting $28.63. The stock had a trading volume of 9,235,212 shares, compared to its average volume of 1,611,081. The company has a 50 day simple moving average of $25.17 and a 200-day simple moving average of $24.22. The company has a current ratio of 1.67, a quick ratio of 1.57 and a debt-to-equity ratio of 3.04. Sable Offshore Corp. has a 52 week low of $13.66 and a 52 week high of $35.00.

Sable Offshore (NYSE:SOC - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.63). The business had revenue of $78.00 million during the quarter, compared to analysts' expectations of $21.00 million. On average, analysts expect that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Sable Offshore in a research report on Monday, May 26th. Benchmark increased their target price on Sable Offshore from $37.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. BWS Financial reiterated a "sell" rating and set a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, May 13th. Roth Capital set a $37.00 target price on Sable Offshore and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Roth Mkm started coverage on shares of Sable Offshore in a research note on Thursday, March 27th. They set a "buy" rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Sable Offshore currently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

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.