19,676 Shares in Sable Offshore Corp. (NYSE:SOC) Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. purchased a new stake in Sable Offshore Corp. (NYSE:SOC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,676 shares of the company's stock, valued at approximately $451,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Sable Offshore in the 4th quarter valued at $53,000. IFP Advisors Inc purchased a new stake in Sable Offshore in the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS purchased a new stake in Sable Offshore in the 4th quarter valued at $144,000. Tower Research Capital LLC TRC raised its position in Sable Offshore by 917.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,448 shares of the company's stock valued at $148,000 after buying an additional 5,814 shares during the last quarter. Finally, Mission Wealth Management LP purchased a new stake in Sable Offshore in the 4th quarter valued at $201,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SOC has been the subject of a number of analyst reports. Roth Capital set a $37.00 price target on Sable Offshore and gave the company a "buy" rating in a research report on Friday, May 23rd. Benchmark raised their target price on Sable Offshore from $37.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. BWS Financial reaffirmed a "sell" rating and set a $6.00 target price on shares of Sable Offshore in a research report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Sable Offshore in a research report on Monday. 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 for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

Insider Buying and Selling

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now owns 10,100,569 shares in the company, valued at $256,251,435.53. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 36.36% of the stock is currently owned by insiders.

Sable Offshore Stock Up 1.4%

SOC traded up $0.40 during trading hours on Friday, hitting $27.91. The stock had a trading volume of 906,795 shares, compared to its average volume of 1,342,790. The company's fifty day simple moving average is $23.39 and its 200 day simple moving average is $23.95. 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 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

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 company had revenue of $78.00 million during the quarter, compared to the consensus estimate of $21.00 million. Analysts predict that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.

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.