BNP Paribas Financial Markets Has $158,000 Holdings in Sable Offshore Corp. (NYSE:SOC)

BNP Paribas Financial Markets decreased its stake in Sable Offshore Corp. (NYSE:SOC - Free Report) by 80.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the company's stock after selling 28,514 shares during the period. BNP Paribas Financial Markets' holdings in Sable Offshore were worth $158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. raised its position in Sable Offshore by 2.7% during the fourth quarter. Invesco Ltd. now owns 26,030 shares of the company's stock worth $596,000 after acquiring an additional 679 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Sable Offshore by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 31,240 shares of the company's stock worth $715,000 after purchasing an additional 1,634 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Sable Offshore in the 4th quarter valued at about $53,000. Legal & General Group Plc lifted its stake in Sable Offshore by 7.2% in the 4th quarter. Legal & General Group Plc now owns 43,284 shares of the company's stock valued at $991,000 after purchasing an additional 2,890 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Sable Offshore by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,613 shares of the company's stock valued at $450,000 after purchasing an additional 3,001 shares during the last quarter. Institutional investors and hedge funds own 26.19% of the company's stock.

Wall Street Analyst Weigh In

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

Sable Offshore Stock Down 3.6%

Shares of NYSE SOC traded down $0.87 during midday trading on Wednesday, reaching $23.17. The company's stock had a trading volume of 5,112,256 shares, compared to its average volume of 1,405,644. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The business's 50 day moving average price is $23.40 and its two-hundred day moving average price is $24.06. Sable Offshore Corp. has a fifty-two week low of $13.66 and a fifty-two week high of $35.00.

Sable Offshore (NYSE:SOC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $21.00 million. On average, equities analysts forecast that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Insider Activity at Sable Offshore

In other news, major shareholder Global Icav Pilgrim sold 143,806 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,100,569 shares of the company's stock, valued at approximately $256,251,435.53. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 36.36% of the stock is owned by insiders.

Sable Offshore Company 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.