GM Advisory Group LLC Buys 90,000 Shares of Sable Offshore Corp. (NYSE:SOC)

GM Advisory Group LLC raised its stake in shares of Sable Offshore Corp. (NYSE:SOC) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 600,000 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Sable Offshore makes up 0.8% of GM Advisory Group LLC’s portfolio, making the stock its 27th largest holding. GM Advisory Group LLC’s holdings in Sable Offshore were worth $13,740,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc bought a new position in shares of Sable Offshore during the fourth quarter valued at $81,000. ORG Wealth Partners LLC bought a new position in shares of Sable Offshore in the fourth quarter valued at about $106,000. Salem Investment Counselors Inc. raised its holdings 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 valued at $114,000 after buying an additional 2,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $179,000 after buying an additional 1,830 shares during the last quarter. Finally, Mission Wealth Management LP bought a new position in shares of Sable Offshore in the fourth quarter valued at about $201,000. 26.19% of the stock is owned by institutional investors.

Sable Offshore Price Performance

Shares of SOC stock opened at $25.76 on Wednesday. The stock has a 50-day moving average price of $25.72 and a 200 day moving average price of $23.49. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. Sable Offshore Corp. has a 12 month low of $10.11 and a 12 month high of $32.33.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SOC shares. BWS Financial reaffirmed a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a report on Tuesday. Pickering Energy Partners started coverage on Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. Finally, Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a report on Tuesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.25.

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.