Ieq Capital LLC Takes $512,000 Position in Sable Offshore Corp. (NYSE:SOC)

Ieq Capital LLC purchased a new stake in Sable Offshore Corp. (NYSE:SOC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,361 shares of the company’s stock, valued at approximately $512,000.

Other institutional investors also recently modified their holdings of the company. Himalaya Capital Management LLC bought a new stake in Sable Offshore during the third quarter worth about $31,735,000. State Street Corp raised its holdings in Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock worth $37,557,000 after acquiring an additional 677,426 shares in the last quarter. GM Advisory Group LLC raised its holdings in Sable Offshore by 370.3% during the third quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock worth $12,051,000 after acquiring an additional 401,559 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock worth $2,836,000 after acquiring an additional 72,694 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in Sable Offshore during the fourth quarter worth about $1,562,000. 26.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Johnson Rice assumed coverage on Sable Offshore in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price on the stock. Pickering Energy Partners assumed coverage on Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating on the stock. BWS Financial reissued a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research report on Wednesday, November 27th. Finally, Benchmark reissued a “buy” rating and set a $37.00 price target on shares of Sable Offshore in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.25.

Sable Offshore Stock Performance

Shares of NYSE SOC opened at $28.93 on Thursday. The business’s 50 day moving average price is $25.27 and its two-hundred day moving average price is $22.51. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. Sable Offshore Corp. has a twelve month low of $10.11 and a twelve month high of $32.33.

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.