17,208 Shares in Sable Offshore Corp. (NYSE:SOC) Bought by KDK Private Wealth Management LLC

KDK Private Wealth Management LLC purchased a new stake in Sable Offshore Corp. (NYSE:SOC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,208 shares of the company's stock, valued at approximately $394,000.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock valued at $2,836,000 after purchasing an additional 72,694 shares during the last quarter. Americana Partners LLC bought a new stake in shares of Sable Offshore during the fourth quarter worth $309,000. Y Intercept Hong Kong Ltd bought a new position in Sable Offshore in the fourth quarter valued at about $354,000. Emerald Advisers LLC acquired a new stake in Sable Offshore in the fourth quarter worth about $6,700,000. Finally, Raymond James Financial Inc. acquired a new position in Sable Offshore during the 4th quarter valued at about $1,177,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SOC shares. BWS Financial reaffirmed a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a research note on Tuesday, March 18th. Roth Mkm initiated coverage on Sable Offshore in a report on Thursday, March 27th. They issued a "buy" rating and a $30.00 price objective for the company. Roth Capital set a $30.00 target price on Sable Offshore in a research report on Thursday, March 27th. Benchmark reiterated a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

Sable Offshore Price Performance

SOC stock traded up $0.18 during midday trading on Wednesday, reaching $19.95. The company had a trading volume of 994,491 shares, compared to its average volume of 1,502,900. Sable Offshore Corp. has a 1-year low of $10.11 and a 1-year high of $32.33. The stock has a 50 day moving average price of $24.63 and a 200-day moving average price of $23.37. 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 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.