Sable Offshore (NYSE:SOC) Sees Large Volume Increase

Sable Offshore Corp. (NYSE:SOCGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 277,911 shares were traded during mid-day trading, an increase of 117% from the previous session’s volume of 128,261 shares.The stock last traded at $12.36 and had previously closed at $11.70.

Wall Street Analyst Weigh In

Separately, TD Cowen assumed coverage on shares of Sable Offshore in a research report on Monday, February 26th. They set an “outperform” rating and a $20.00 price target for the company.

Check Out Our Latest Research Report on SOC

Sable Offshore Trading Up 5.5 %

The firm’s 50-day moving average price is $11.02.

Hedge Funds Weigh In On Sable Offshore

A hedge fund recently bought a new stake in Sable Offshore stock. Clarus Group Inc. purchased a new stake in shares of Sable Offshore Corp. (NYSE:SOCFree Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,613 shares of the company’s stock, valued at approximately $325,000. 26.19% of the stock is owned by institutional investors and hedge funds.

About Sable Offshore

(Get Free Report)

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. It operates through three platforms located offshore California and an onshore processing facility comprised of 16 federal leases across approximately 76,000 acres. The company was formerly known as Flame Acquisition Corp.

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