EntryPoint Capital LLC Makes New Investment in Sable Offshore Corp. (NYSE:SOC)

EntryPoint Capital LLC acquired a new position in Sable Offshore Corp. (NYSE:SOC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 32,189 shares of the company’s stock, valued at approximately $737,000. Sable Offshore comprises approximately 0.3% of EntryPoint Capital LLC’s holdings, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in 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 during the period. Americana Partners LLC purchased a new position in shares of Sable Offshore during the fourth quarter valued at about $309,000. Y Intercept Hong Kong Ltd purchased a new stake in Sable Offshore in the fourth quarter worth about $354,000. Bleakley Financial Group LLC purchased a new stake in Sable Offshore in the fourth quarter worth about $1,562,000. Finally, Barclays PLC grew its holdings in shares of Sable Offshore by 342.9% during the 3rd quarter. Barclays PLC now owns 77,583 shares of the company’s stock worth $1,832,000 after acquiring an additional 60,065 shares during the period. Institutional investors own 26.19% of the company’s stock.

Sable Offshore Trading Up 2.9 %

Shares of Sable Offshore stock opened at $25.86 on Tuesday. Sable Offshore Corp. has a 1 year low of $10.11 and a 1 year high of $32.33. The firm’s 50-day moving average is $25.96 and its 200 day moving average is $23.62. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

Analysts Set New Price Targets

SOC has been the topic of several research reports. Benchmark restated a “buy” rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Pickering Energy Partners initiated coverage on shares of Sable Offshore in a report on Tuesday, December 17th. They set an “outperform” rating on the stock. Finally, BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, Sable Offshore currently has an average rating of “Moderate Buy” and an average target price 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.