Sable Offshore Corp. (NYSE:SOC) Receives $25.00 Consensus Price Target from Analysts

Shares of Sable Offshore Corp. (NYSE:SOC) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $25.00.

Several analysts have weighed in on the company. Johnson Rice began coverage on Sable Offshore in a report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price on the stock. Benchmark restated a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a report on Monday, October 7th. Pickering Energy Partners initiated coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating on the stock. Finally, BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a research note on Wednesday, November 27th.

Sable Offshore Trading Down 0.4 %

Shares of NYSE:SOC opened at $24.56 on Friday. Sable Offshore has a 12 month low of $10.11 and a 12 month high of $28.67. The business’s 50 day simple moving average is $22.51 and its 200-day simple moving average is $20.29. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34.

Hedge Funds Weigh In On Sable Offshore

A number of institutional investors have recently modified their holdings of SOC. Bank of New York Mellon Corp purchased a new stake in Sable Offshore in the 2nd quarter worth approximately $2,154,000. Rhumbline Advisers purchased a new stake in shares of Sable Offshore in the second quarter valued at $862,000. Amalgamated Bank acquired a new position in Sable Offshore in the second quarter valued at $26,000. GM Advisory Group LLC purchased a new position in Sable Offshore during the second quarter worth about $1,634,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Sable Offshore in the 2nd quarter worth about $324,000. Institutional investors and hedge funds own 26.19% of the company’s stock.

About Sable Offshore

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.