EntryPoint Capital LLC Takes $737,000 Position in Sable Offshore Corp. (NYSE:SOC)

EntryPoint Capital LLC acquired a new stake in shares of Sable Offshore Corp. (NYSE:SOC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 32,189 shares of the company’s stock, valued at approximately $737,000. Sable Offshore makes up about 0.3% of EntryPoint Capital LLC’s portfolio, making the stock its 22nd biggest holding.

Several other large investors also recently bought and sold shares of SOC. IFP Advisors Inc bought a new stake in shares of Sable Offshore in the fourth quarter worth approximately $81,000. ORG Wealth Partners LLC purchased a new stake in Sable Offshore during the 4th quarter valued at $106,000. Salem Investment Counselors Inc. boosted its stake in shares of Sable Offshore by 81.8% in the 4th 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 last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Sable Offshore in the fourth quarter worth $144,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sable Offshore by 31.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock valued at $179,000 after acquiring an additional 1,830 shares during the last quarter. 26.19% of the stock is currently owned by institutional investors.

Sable Offshore Stock Performance

NYSE SOC opened at $25.86 on Tuesday. 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 Corp. has a 12 month low of $10.11 and a 12 month high of $32.33. The company’s 50 day moving average is $25.96 and its two-hundred day moving average is $23.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Pickering Energy Partners initiated coverage on Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating for the company. Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Sable Offshore currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

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.