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

Bleakley Financial Group LLC bought a new stake in shares of Sable Offshore Corp. (NYSE:SOC) in the 4th quarter, Holdings Channel.com reports. The firm bought 68,216 shares of the company’s stock, valued at approximately $1,562,000.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Sable Offshore by 153.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company’s stock valued at $2,836,000 after purchasing an additional 72,694 shares in the last quarter. Barclays PLC grew its position in Sable Offshore by 342.9% in the third quarter. Barclays PLC now owns 77,583 shares of the company’s stock worth $1,832,000 after buying an additional 60,065 shares during the last quarter. GM Advisory Group LLC increased its holdings in shares of Sable Offshore by 370.3% in the third quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock valued at $12,051,000 after buying an additional 401,559 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Sable Offshore during the 3rd quarter valued at $591,000. Finally, Geode Capital Management LLC grew its holdings in shares of Sable Offshore by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company’s stock worth $24,844,000 after acquiring an additional 26,934 shares during the last quarter. 26.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Sable Offshore Price Performance

NYSE SOC opened at $21.90 on Friday. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. 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 52-week low of $10.11 and a 52-week high of $29.80.

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.