Blackhawk Capital Partners LLC Invests $1.46 Million in Sable Offshore Corp. $SOC

Blackhawk Capital Partners LLC bought a new stake in Sable Offshore Corp. (NYSE:SOC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 83,529 shares of the company’s stock, valued at approximately $1,458,000. Blackhawk Capital Partners LLC owned about 0.08% of Sable Offshore at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Sable Offshore by 1,262.8% in the 2nd quarter. CWM LLC now owns 1,867 shares of the company’s stock valued at $41,000 after buying an additional 1,730 shares during the period. KBC Group NV acquired a new position in shares of Sable Offshore in the 2nd quarter valued at $46,000. NewEdge Advisors LLC grew its stake in shares of Sable Offshore by 36.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock valued at $62,000 after buying an additional 650 shares during the period. MAI Capital Management acquired a new stake in shares of Sable Offshore during the 2nd quarter worth $123,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Sable Offshore by 41.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,985 shares of the company’s stock worth $154,000 after buying an additional 2,041 shares during the period. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SOC. TD Cowen reissued a “buy” rating on shares of Sable Offshore in a research report on Thursday, December 18th. Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a research note on Thursday, January 8th. Jefferies Financial Group restated a “buy” rating on shares of Sable Offshore in a report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sable Offshore in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Sable Offshore Trading Down 16.3%

NYSE SOC opened at $10.38 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of -3.18 and a beta of 0.40. The company’s fifty day simple moving average is $7.68 and its 200-day simple moving average is $16.51. Sable Offshore Corp. has a 52 week low of $3.72 and a 52 week high of $35.00.

Sable Offshore (NYSE:SOC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.21). On average, research analysts expect that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Sable Offshore Company Profile

Sable Offshore (NYSE:SOC) is an independent upstream oil and natural gas company specializing in offshore hydrocarbon exploration and production. The company identifies and secures exploration and development rights, conducts detailed seismic interpretation, and advances offshore prospects through appraisal and development phases. Its focus on the offshore environment drives investments in specialized drilling techniques, subsea infrastructure and production facility design.

Core business activities include offshore seismic surveys, the drilling of exploration and appraisal wells, installation and operation of production platforms or subsea systems, and well intervention services.