Diametric Capital LP Purchases New Stake in Sable Offshore Corp. (NYSE:SOC)

Diametric Capital LP acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,921 shares of the company’s stock, valued at approximately $479,000.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sable Offshore by 31.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock worth $179,000 after purchasing an additional 1,830 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Sable Offshore by 81.8% during the fourth 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 in the last quarter. Summit Securities Group LLC acquired a new position in Sable Offshore during the fourth quarter worth about $53,000. Rhumbline Advisers increased its holdings in Sable Offshore by 5.0% in the fourth quarter. Rhumbline Advisers now owns 66,413 shares of the company’s stock valued at $1,521,000 after buying an additional 3,140 shares in the last quarter. Finally, IFP Advisors Inc acquired a new stake in shares of Sable Offshore during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 26.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Roth Mkm began coverage on Sable Offshore in a research note on Thursday, March 27th. They issued a “buy” rating and a $30.00 price objective for the company. Roth Capital raised Sable Offshore to a “strong-buy” rating in a report on Thursday, March 27th. BWS Financial reaffirmed a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, March 18th. Benchmark reiterated a “buy” rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sable Offshore has an average rating of “Moderate Buy” and an average price target of $27.00.

Sable Offshore Trading Down 1.9 %

SOC opened at $25.43 on Tuesday. The business’s fifty day simple moving average is $26.15 and its 200 day simple moving average is $23.79. Sable Offshore Corp. has a 52 week low of $10.11 and a 52 week high of $32.33. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86.

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.