Bleakley Financial Group LLC Makes New $1.56 Million Investment in Sable Offshore Corp. (NYSE:SOC)

Bleakley Financial Group LLC purchased a new stake in shares of Sable Offshore Corp. (NYSE:SOC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 68,216 shares of the company’s stock, valued at approximately $1,562,000. Bleakley Financial Group LLC owned approximately 0.08% of Sable Offshore at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SOC. ORG Wealth Partners LLC acquired a new stake in shares of Sable Offshore during the fourth quarter worth $106,000. Salem Investment Counselors Inc. raised its stake 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 acquiring an additional 2,250 shares during the period. US Bancorp DE boosted its stake in Sable Offshore by 340.4% in the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after acquiring an additional 3,758 shares during the period. Covestor Ltd acquired a new stake in shares of Sable Offshore during the 3rd quarter worth approximately $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sable Offshore by 31.9% in 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 last quarter. 26.19% of the stock is owned by institutional investors and hedge funds.

Sable Offshore Stock Performance

SOC stock opened at $21.90 on Friday. 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 company has a 50-day simple moving average of $23.23 and a 200 day simple moving average of $21.24. Sable Offshore Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $29.80.

Analyst Ratings Changes

Several equities research analysts have weighed in on SOC shares. BWS Financial reaffirmed a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research report on Wednesday, November 27th. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They issued an “outperform” rating on the stock. Finally, Johnson Rice assumed coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.