XTX Topco Ltd Buys 17,337 Shares of Sable Offshore Corp. (NYSE:SOC)

XTX Topco Ltd raised its position in shares of Sable Offshore Corp. (NYSE:SOC) by 101.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,505 shares of the company’s stock after purchasing an additional 17,337 shares during the quarter. XTX Topco Ltd’s holdings in Sable Offshore were worth $790,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Sable Offshore during the fourth quarter worth $53,000. IFP Advisors Inc acquired a new stake in Sable Offshore during the 4th quarter worth about $81,000. ORG Wealth Partners LLC bought a new position in shares of Sable Offshore in the 4th quarter worth about $106,000. Salem Investment Counselors Inc. boosted its position in shares of Sable Offshore by 81.8% during the 4th 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 stake in Sable Offshore during the fourth quarter worth approximately $144,000. Institutional investors own 26.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOC. Roth Capital set a $30.00 price objective on shares of Sable Offshore in a research report on Thursday, March 27th. Benchmark restated a “buy” rating on shares of Sable Offshore in a research note on Tuesday, March 18th. BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a report on Tuesday, March 18th. Finally, Roth Mkm began coverage on Sable Offshore in a research report on Thursday, March 27th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.50.

Sable Offshore Trading Up 3.1 %

NYSE SOC opened at $20.22 on Friday. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year high of $32.33. The company has a fifty day moving average price of $24.59 and a 200-day moving average price of $23.35. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

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.