1,113,062 Shares in Sable Offshore Corp. $SOC Bought by Cooper Creek Partners Management LLC

Key Points

• Cooper Creek Partners opened a new position in Sable Offshore (NYSE:SOC), buying 1,113,062 shares in Q2 worth about $24.47 million, equal to roughly a 1.24% stake.
• Major shareholder Global Icav Pilgrim also accumulated shares, buying 982,645 at an average $15.04 (≈$14.78M) and raising its holding to 10,933,394 shares; insiders now own 36.36% of the company.
• Sable reported an EPS miss (−$1.11 vs. −$0.90), has a market cap of about $819M, and trades far below analyst target consensus ($19.60) despite a recent 10.8% intraday gain and a 12‑month range of $3.72–$35.00.

Cooper Creek Partners Management LLC purchased a new position in Sable Offshore Corp. (NYSE:SOC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,113,062 shares of the company's stock, valued at approximately $24,465,000. Cooper Creek Partners Management LLC owned approximately 1.24% of Sable Offshore as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SOC. NewEdge Advisors LLC grew its position in shares of Sable Offshore by 36.2% during the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company's stock worth $62,000 after purchasing an additional 650 shares in the last quarter. SVB Wealth LLC bought a new position in Sable Offshore in the 1st quarter worth approximately $29,000. Townsquare Capital LLC grew its holdings in Sable Offshore by 12.3% during the 1st quarter. Townsquare Capital LLC now owns 11,338 shares of the company's stock valued at $288,000 after buying an additional 1,242 shares in the last quarter. US Bancorp DE raised its position in shares of Sable Offshore by 62.2% during the first quarter. US Bancorp DE now owns 3,281 shares of the company's stock valued at $83,000 after buying an additional 1,258 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sable Offshore by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,991 shares of the company's stock valued at $761,000 after buying an additional 1,271 shares during the last quarter. 26.19% of the stock is currently owned by hedge funds and other institutional investors.

Sable Offshore Stock Up 10.8%

Sable Offshore stock opened at $5.65 on Friday. Sable Offshore Corp. has a twelve month low of $3.72 and a twelve month high of $35.00. The company's 50-day moving average price is $10.42 and its 200-day moving average price is $20.33. The company has a market cap of $819.02 million, a PE ratio of -1.73 and a beta of 0.51.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Sable Offshore from $38.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Sable Offshore in a report on Thursday, October 30th. Roth Capital reaffirmed a "buy" rating on shares of Sable Offshore in a report on Monday, December 1st. Finally, Benchmark dropped their price target on Sable Offshore from $47.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Sable Offshore presently has an average rating of "Hold" and a consensus target price of $19.60.

Insider Buying and Selling at Sable Offshore

In related news, major shareholder Global Icav Pilgrim bought 982,645 shares of the business's stock in a transaction dated Wednesday, October 15th. The shares were purchased at an average price of $15.04 per share, with a total value of $14,778,980.80. Following the transaction, the insider owned 10,933,394 shares in the company, valued at $164,438,245.76. This trade represents a 9.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 36.36% of the company's stock.

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.

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