Clarus Group Inc. Has $963,000 Stock Position in Sable Offshore Corp. (NYSE:SOC)

Clarus Group Inc. boosted its stake in Sable Offshore Corp. (NYSE:SOC) by 21.7% in the fourth quarter, Holdings Channel reports. The firm owned 42,070 shares of the company’s stock after purchasing an additional 7,488 shares during the quarter. Clarus Group Inc.’s holdings in Sable Offshore were worth $963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sable Offshore by 31.9% in the 3rd 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 period. Salem Investment Counselors Inc. boosted its position in shares of Sable Offshore by 81.8% during the 4th 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sable Offshore by 9.9% in 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 acquiring an additional 3,531 shares during the last quarter. US Bancorp DE raised its position 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 in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Sable Offshore during the fourth quarter worth $106,000. Institutional investors own 26.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SOC shares. Johnson Rice assumed 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 reiterated 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 started coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sable Offshore has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Sable Offshore Stock Performance

Shares of SOC stock opened at $23.18 on Tuesday. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore Corp. has a twelve month low of $10.11 and a twelve month high of $29.80. The stock’s fifty day simple moving average is $23.24 and its 200 day simple moving average is $21.40.

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.