Aptus Capital Advisors LLC Invests $963,000 in Sable Offshore Corp. (NYSE:SOC)

Aptus Capital Advisors LLC purchased a new position in Sable Offshore Corp. (NYSE:SOC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,043 shares of the company's stock, valued at approximately $963,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Sable Offshore by 153.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock worth $2,836,000 after acquiring an additional 72,694 shares in the last quarter. Americana Partners LLC purchased a new position in Sable Offshore in the 4th quarter worth about $309,000. Y Intercept Hong Kong Ltd purchased a new position in Sable Offshore in the 4th quarter worth about $354,000. Emerald Advisers LLC acquired a new stake in Sable Offshore during the 4th quarter worth about $6,700,000. Finally, Raymond James Financial Inc. purchased a new stake in Sable Offshore during the fourth quarter valued at about $1,177,000. Institutional investors and hedge funds own 26.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Sable Offshore

In related 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 completion of the sale, the insider now owns 10,100,569 shares of the company's stock, valued at approximately $256,251,435.53. The trade was a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.30% of the company's stock.

Sable Offshore Stock Performance

SOC traded up $2.03 during trading on Friday, reaching $23.00. 1,975,575 shares of the stock traded hands, compared to its average volume of 1,158,235. The stock's 50-day simple moving average is $21.79 and its two-hundred day simple moving average is $23.17. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. Sable Offshore Corp. has a fifty-two week low of $11.01 and a fifty-two week high of $32.33.

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.