38,894 Shares in Sable Offshore Corp. (NYSE:SOC) Acquired by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC purchased a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,894 shares of the company's stock, valued at approximately $987,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in shares of Sable Offshore during the fourth quarter worth about $53,000. KLP Kapitalforvaltning AS purchased a new stake in Sable Offshore during the 4th quarter worth about $144,000. Tower Research Capital LLC TRC lifted its holdings in Sable Offshore by 917.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,448 shares of the company's stock worth $148,000 after buying an additional 5,814 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Sable Offshore during the 4th quarter worth about $213,000. Finally, Arizona State Retirement System purchased a new stake in Sable Offshore during the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 26.19% of the company's stock.

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 that occurred on Thursday, April 17th. The stock was sold at an average price of $25.37, for a total value of $3,648,358.22. Following the transaction, the insider directly owned 10,100,569 shares in the company, valued at approximately $256,251,435.53. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 36.36% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on SOC. Roth Capital set a $37.00 price target on shares of Sable Offshore and gave the company a "buy" rating in a research note on Friday, May 23rd. BWS Financial reaffirmed a "sell" rating and issued a $6.00 target price on shares of Sable Offshore in a research report on Tuesday, May 13th. Benchmark boosted their price target on shares of Sable Offshore from $37.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Jefferies Financial Group restated a "buy" rating on shares of Sable Offshore in a research note on Monday, May 26th. Finally, Roth Mkm began coverage on Sable Offshore in a research report on Thursday, March 27th. They set a "buy" rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sable Offshore presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

Sable Offshore Stock Down 1.1%

NYSE:SOC traded down $0.24 during mid-day trading on Thursday, reaching $21.77. 1,537,308 shares of the stock were exchanged, compared to its average volume of 1,555,424. The company has a 50 day simple moving average of $24.80 and a 200-day simple moving average of $24.22. Sable Offshore Corp. has a 1 year low of $13.66 and a 1 year high of $35.00. The company has a current ratio of 1.67, a quick ratio of 1.57 and a debt-to-equity ratio of 3.04.

Sable Offshore (NYSE:SOC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.63). The company had revenue of $78.00 million during the quarter, compared to analysts' expectations of $21.00 million. On average, equities analysts predict that Sable Offshore Corp. will post -6.39 earnings per share for the current year.

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.