Deutsche Bank AG Purchases 15,481 Shares of Sable Offshore Corp. (NYSE:SOC)

Deutsche Bank AG increased its holdings in Sable Offshore Corp. (NYSE:SOC - Free Report) by 52.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,241 shares of the company's stock after acquiring an additional 15,481 shares during the period. Deutsche Bank AG owned about 0.05% of Sable Offshore worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SOC. Barclays PLC increased its position in Sable Offshore by 342.9% during the third quarter. Barclays PLC now owns 77,583 shares of the company's stock worth $1,832,000 after buying an additional 60,065 shares during the last quarter. SG Americas Securities LLC grew its position in Sable Offshore by 42.0% during the fourth quarter. SG Americas Securities LLC now owns 24,783 shares of the company's stock worth $568,000 after buying an additional 7,332 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Sable Offshore during the fourth quarter valued at approximately $1,562,000. Clarus Group Inc. boosted its holdings in Sable Offshore by 21.7% during the fourth quarter. Clarus Group Inc. now owns 42,070 shares of the company's stock valued at $963,000 after purchasing an additional 7,488 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Sable Offshore by 5.0% during the fourth quarter. Rhumbline Advisers now owns 66,413 shares of the company's stock valued at $1,521,000 after purchasing an additional 3,140 shares in the last quarter. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Trading Up 4.9%

Sable Offshore stock traded up $1.36 during mid-day trading on Friday, reaching $28.87. The company had a trading volume of 2,988,951 shares, compared to its average volume of 1,357,126. Sable Offshore Corp. has a fifty-two week low of $13.66 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. The business has a fifty day simple moving average of $23.44 and a 200 day simple moving average of $24.00.

Sable Offshore (NYSE:SOC - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $21.00 million. On average, equities research analysts expect that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, major shareholder Global Icav Pilgrim sold 143,806 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $25.37, for a total transaction of $3,648,358.22. Following the completion of the transaction, the insider now directly owns 10,100,569 shares of the company's stock, valued at $256,251,435.53. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 36.36% of the stock is currently owned by company insiders.

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.