Sable Offshore (NYSE:SOC) Now Covered by Analysts at Roth Mkm

Equities research analysts at Roth Mkm initiated coverage on shares of Sable Offshore (NYSE:SOC) in a research report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Roth Mkm’s price target suggests a potential upside of 14.43% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. Benchmark reissued a “buy” rating on shares of Sable Offshore in a research note on Tuesday, March 18th. Finally, Pickering Energy Partners assumed coverage on Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Sable Offshore currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Sable Offshore Stock Down 0.5 %

Sable Offshore stock opened at $26.22 on Thursday. The stock has a 50-day simple moving average of $26.07 and a 200 day simple moving average of $23.67. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. Sable Offshore has a 12-month low of $10.11 and a 12-month high of $32.33.

Institutional Trading of Sable Offshore

Several hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in shares of Sable Offshore during the fourth quarter worth $53,000. IFP Advisors Inc bought a new position in Sable Offshore during the 4th quarter worth about $81,000. ORG Wealth Partners LLC acquired a new stake in shares of Sable Offshore in the 4th quarter valued at about $106,000. Salem Investment Counselors Inc. lifted its holdings in shares of 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 purchasing an additional 2,250 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sable Offshore during the fourth quarter worth about $144,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

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.