Sable Offshore (NYSE:SOC) Earns Buy Rating from Analysts at Roth Mkm

Equities researchers at Roth Mkm assumed coverage on shares of Sable Offshore (NYSE:SOC) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. Roth Mkm’s price target would suggest a potential upside of 15.62% from the company’s current price.

A number of other equities research analysts have also recently commented on SOC. Pickering Energy Partners started 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 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Benchmark reissued a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. One equities research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Sable Offshore Price Performance

Shares of SOC stock opened at $25.95 on Thursday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore has a one year low of $10.11 and a one year high of $32.33. The company’s fifty day moving average price is $26.13 and its 200-day moving average price is $23.71.

Institutional Investors Weigh In On Sable Offshore

A number of hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in Sable Offshore during the 3rd quarter valued at approximately $245,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sable Offshore by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock valued at $9,111,000 after acquiring an additional 21,794 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Sable Offshore by 127.5% in the third quarter. BNP Paribas Financial Markets now owns 35,413 shares of the company’s stock valued at $837,000 after purchasing an additional 19,847 shares in the last quarter. MetLife Investment Management LLC increased its position in Sable Offshore by 129.1% in the third quarter. MetLife Investment Management LLC now owns 29,606 shares of the company’s stock worth $700,000 after purchasing an additional 16,682 shares during the last quarter. Finally, BBR Partners LLC purchased a new stake in Sable Offshore during the third quarter valued at $354,000. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

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.