4,608 Shares in Sable Offshore Corp. (NYSE:SOC) Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC purchased a new position in Sable Offshore Corp. (NYSE:SOC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,608 shares of the company’s stock, valued at approximately $106,000.

Several other institutional investors have also added to or reduced their stakes in the business. Amalgamated Bank purchased a new stake in Sable Offshore during the second quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 purchasing an additional 1,830 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Sable Offshore by 9.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,248 shares of the company’s stock valued at $927,000 after purchasing an additional 3,531 shares during the last quarter. US Bancorp DE lifted its holdings in 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 during the last quarter. Finally, Covestor Ltd purchased a new stake in Sable Offshore during the third quarter valued at about $130,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Price Performance

SOC stock opened at $22.91 on Friday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The company’s 50 day moving average is $22.45 and its 200 day moving average is $19.93. Sable Offshore Corp. has a 1-year low of $10.11 and a 1-year high of $28.67.

Wall Street Analyst Weigh In

SOC has been the topic of several recent research reports. BWS Financial reaffirmed a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a report on Wednesday, November 27th. Johnson Rice began coverage on shares of Sable Offshore in a report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a report on Monday, October 7th. Finally, Pickering Energy Partners began coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.