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

U.S. Capital Wealth Advisors LLC acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 38,894 shares of the company's stock, valued at approximately $987,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sable Offshore by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company's stock worth $79,832,000 after purchasing an additional 665,407 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in Sable Offshore by 128.9% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,400,000 shares of the company's stock worth $32,060,000 after purchasing an additional 788,495 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sable Offshore by 16.9% during the fourth quarter. Geode Capital Management LLC now owns 1,229,148 shares of the company's stock worth $28,155,000 after buying an additional 177,971 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its position in shares of Sable Offshore by 24.3% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 623,364 shares of the company's stock valued at $14,275,000 after buying an additional 121,751 shares during the last quarter. Finally, GM Advisory Group LLC lifted its stake in shares of Sable Offshore by 17.6% in the fourth quarter. GM Advisory Group LLC now owns 600,000 shares of the company's stock worth $13,740,000 after buying an additional 90,000 shares in the last quarter. Institutional investors and hedge funds own 26.19% of the company's stock.

Insiders Place Their Bets

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of the business's 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 sale, the insider owned 10,100,569 shares of the company's stock, valued at $256,251,435.53. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 36.36% of the company's stock.

Sable Offshore Stock Down 6.1%

NYSE SOC opened at $21.92 on Thursday. 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 Corp. has a twelve month low of $13.66 and a twelve month high of $35.00. The stock has a fifty day simple moving average of $24.80 and a 200-day simple moving average of $24.22.

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

Analysts Set New Price Targets

A number of research firms have commented on SOC. Jefferies Financial Group reiterated a "buy" rating on shares of Sable Offshore in a report on Monday, May 26th. Benchmark lifted their price objective on Sable Offshore from $37.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Roth Mkm assumed coverage on Sable Offshore in a report on Thursday, March 27th. They issued a "buy" rating and a $30.00 target price for the company. Roth Capital set a $37.00 price target on shares of Sable Offshore and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, BWS Financial restated a "sell" rating and set a $6.00 price objective on shares of Sable Offshore in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

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.

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