Clarus Group Inc. Has $963,000 Stock Holdings in Sable Offshore Corp. (NYSE:SOC)

Clarus Group Inc. raised its stake in Sable Offshore Corp. (NYSE:SOC) by 21.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,070 shares of the company’s stock after purchasing an additional 7,488 shares during the quarter. Clarus Group Inc.’s holdings in Sable Offshore were worth $963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SOC. ORG Wealth Partners LLC bought a new position in shares of Sable Offshore in the fourth quarter valued at $106,000. Salem Investment Counselors Inc. lifted its stake in 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 acquiring an additional 2,250 shares during the last quarter. US Bancorp DE grew its position in shares of Sable Offshore by 340.4% in the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after acquiring an additional 3,758 shares during the period. Covestor Ltd acquired a new position in shares of Sable Offshore during the 3rd quarter worth about $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sable Offshore by 31.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock valued at $179,000 after purchasing an additional 1,830 shares during the period. Institutional investors and hedge funds own 26.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a report on Wednesday, November 27th. Johnson Rice started coverage on Sable Offshore in a research note on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price for the company. Finally, Pickering Energy Partners began coverage on Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Sable Offshore Price Performance

Shares of SOC stock opened at $23.18 on Tuesday. Sable Offshore Corp. has a 12-month low of $10.11 and a 12-month high of $29.80. The firm has a 50 day moving average price of $23.24 and a two-hundred day moving average price of $21.40. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50.

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.