Sable Offshore (NYSE:SOC) Given “Sell” Rating at BWS Financial

Sable Offshore (NYSE:SOC)‘s stock had its “sell” rating reiterated by stock analysts at BWS Financial in a report issued on Tuesday,Benzinga reports. They presently have a $6.00 target price on the stock. BWS Financial’s target price would suggest a potential downside of 76.82% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Benchmark restated a “buy” rating and set a $37.00 price objective on shares of Sable Offshore in a report on Thursday, February 20th. Pickering Energy Partners began coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Sable Offshore Stock Performance

Shares of NYSE SOC opened at $25.88 on Tuesday. The firm has a 50-day simple moving average of $25.78 and a two-hundred day simple moving average of $23.51. Sable Offshore has a 1 year low of $10.11 and a 1 year high of $32.33. 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

Several institutional investors have recently made changes to their positions in SOC. Summit Securities Group LLC bought a new stake in shares of Sable Offshore in the 4th quarter valued at about $53,000. IFP Advisors Inc purchased a new position in Sable Offshore during the fourth quarter valued at approximately $81,000. ORG Wealth Partners LLC bought a new position in Sable Offshore in the fourth quarter worth approximately $106,000. Salem Investment Counselors Inc. lifted its holdings in Sable Offshore by 81.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company’s stock worth $114,000 after buying an additional 2,250 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Sable Offshore during the 4th quarter valued at $144,000. Hedge funds and other institutional investors 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.