Sable Offshore Corp. (NYSE:SOC - Get Free Report) shares shot up 4.9% on Tuesday . The stock traded as high as $20.40 and last traded at $20.27. 733,638 shares were traded during mid-day trading, a decline of 31% from the average session volume of 1,063,265 shares. The stock had previously closed at $19.32.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Roth Capital set a $30.00 target price on shares of Sable Offshore in a report on Thursday, March 27th. BWS Financial reiterated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, March 18th. Benchmark restated a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Roth Mkm began coverage on shares of Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.50.
Read Our Latest Research Report on SOC
Sable Offshore Stock Performance
The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. The stock has a 50-day moving average price of $24.44 and a 200 day moving average price of $23.28.
Hedge Funds Weigh In On Sable Offshore
Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Sable Offshore during the fourth quarter worth $53,000. IFP Advisors Inc acquired a new position in shares of Sable Offshore during the 4th quarter worth $81,000. ORG Wealth Partners LLC purchased a new stake in shares of Sable Offshore in the fourth quarter valued at about $106,000. Salem Investment Counselors Inc. lifted its holdings in shares of Sable Offshore by 81.8% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock valued at $114,000 after purchasing an additional 2,250 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sable Offshore during the 4th quarter worth approximately $144,000. 26.19% of the stock is currently owned by hedge funds and other institutional investors.
About Sable Offshore
(
Get Free Report)
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.
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