Sentry Investment Management LLC Sells 3,410 Shares of Sable Offshore Corp. (NYSE:SOC)

Sentry Investment Management LLC reduced its stake in shares of Sable Offshore Corp. (NYSE:SOC) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,944 shares of the company’s stock after selling 3,410 shares during the quarter. Sentry Investment Management LLC’s holdings in Sable Offshore were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc bought a new position in shares of Sable Offshore during the fourth quarter worth $81,000. ORG Wealth Partners LLC purchased a new stake in Sable Offshore in the 4th quarter worth $106,000. Salem Investment Counselors Inc. boosted its holdings 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 during the last quarter. US Bancorp DE grew its position in shares of Sable Offshore by 340.4% during the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after purchasing an additional 3,758 shares in the last quarter. Finally, Covestor Ltd bought a new stake in shares of Sable Offshore in the third quarter worth about $130,000. Institutional investors own 26.19% of the company’s stock.

Sable Offshore Stock Up 3.0 %

NYSE:SOC opened at $29.35 on Tuesday. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The business has a 50 day simple moving average of $24.93 and a 200-day simple moving average of $22.36. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year high of $32.33.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Johnson Rice assumed coverage on Sable Offshore in a research note on Tuesday, November 5th. They set a “buy” rating and a $30.00 price target for the company. Benchmark reiterated a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a research report on Thursday, February 20th. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th. Finally, Pickering Energy Partners initiated coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Sable Offshore 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.