GM Advisory Group LLC Has $13.74 Million Stock Holdings in Sable Offshore Corp. (NYSE:SOC)

GM Advisory Group LLC raised its stake in shares of Sable Offshore Corp. (NYSE:SOC) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 600,000 shares of the company’s stock after purchasing an additional 90,000 shares during the period. Sable Offshore accounts for 0.8% of GM Advisory Group LLC’s portfolio, making the stock its 27th largest holding. GM Advisory Group LLC owned 0.67% of Sable Offshore worth $13,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in shares of Sable Offshore in the fourth quarter worth $81,000. ORG Wealth Partners LLC acquired a new stake in shares of Sable Offshore in the fourth quarter worth $106,000. Salem Investment Counselors Inc. grew its stake in shares of Sable Offshore by 81.8% in 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sable Offshore by 31.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,565 shares of the company’s stock worth $179,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Sable Offshore in the fourth quarter worth $201,000. Institutional investors and hedge funds own 26.19% of the company’s stock.

Sable Offshore Stock Performance

SOC opened at $25.76 on Wednesday. Sable Offshore Corp. has a fifty-two week low of $10.11 and a fifty-two week high of $32.33. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. The firm’s fifty day moving average price is $25.72 and its two-hundred day moving average price is $23.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating on shares of Sable Offshore in a research note on Tuesday. Pickering Energy Partners assumed coverage on shares of Sable Offshore in a research note on Tuesday, December 17th. They issued an “outperform” rating on the stock. Finally, BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Sable Offshore in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.25.

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.