Alyeska Investment Group L.P. Sells 342,714 Shares of Sable Offshore Corp. (NYSE:SOC)

Alyeska Investment Group L.P. cut its stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 36.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 607,286 shares of the company's stock after selling 342,714 shares during the period. Alyeska Investment Group L.P. owned approximately 0.68% of Sable Offshore worth $13,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC bought a new position in Sable Offshore during the fourth quarter worth about $963,000. Schonfeld Strategic Advisors LLC bought a new position in Sable Offshore during the 4th quarter worth approximately $373,000. Emerald Mutual Fund Advisers Trust acquired a new position in Sable Offshore during the fourth quarter valued at approximately $4,008,000. Northern Trust Corp increased its stake in Sable Offshore by 7.0% in the fourth quarter. Northern Trust Corp now owns 470,112 shares of the company's stock valued at $10,766,000 after purchasing an additional 30,720 shares in the last quarter. Finally, Two Seas Capital LP acquired a new stake in Sable Offshore in the fourth quarter worth $3,630,000. Institutional investors own 26.19% of the company's stock.

Wall Street Analyst Weigh In

SOC has been the subject of several research analyst reports. Roth Capital set a $30.00 price target on shares of Sable Offshore in a report on Thursday, March 27th. BWS Financial reissued a "sell" rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. Benchmark reaffirmed a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Roth Mkm initiated coverage on Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $27.50.

Sable Offshore Trading Up 9.7 %

Shares of Sable Offshore stock traded up $2.03 during trading on Friday, reaching $23.00. The stock had a trading volume of 1,975,575 shares, compared to its average volume of 1,161,291. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The stock has a fifty day moving average price of $21.79 and a two-hundred day moving average price of $23.20. Sable Offshore Corp. has a 52 week low of $11.01 and a 52 week high of $32.33.

Insider Buying and Selling at Sable Offshore

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of Sable Offshore stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $25.37, for a total value of $3,648,358.22. Following the sale, the insider now directly owns 10,100,569 shares in the company, valued at approximately $256,251,435.53. The trade was a 1.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.30% of the company's stock.

Sable Offshore Profile

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.