GTS Securities LLC Sells 21,947 Shares of Sable Offshore Corp. (NYSE:SOC)

GTS Securities LLC lessened its stake in Sable Offshore Corp. (NYSE:SOC - Free Report) by 50.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,634 shares of the company's stock after selling 21,947 shares during the period. GTS Securities LLC's holdings in Sable Offshore were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Americana Partners LLC acquired a new stake in shares of Sable Offshore in the fourth quarter valued at $309,000. Y Intercept Hong Kong Ltd bought a new stake in Sable Offshore in the fourth quarter worth about $354,000. Emerald Advisers LLC acquired a new stake in Sable Offshore in the 4th quarter valued at about $6,700,000. Raymond James Financial Inc. bought a new position in shares of Sable Offshore during the 4th quarter valued at about $1,177,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Sable Offshore during the 4th quarter valued at about $1,562,000. Institutional investors own 26.19% of the company's stock.

Analyst Upgrades and Downgrades

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

Sable Offshore Stock Performance

NYSE:SOC traded down $0.42 on Thursday, hitting $27.47. 3,074,605 shares of the company's stock traded hands, compared to its average volume of 1,340,342. 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. The firm has a 50-day moving average price of $23.35 and a 200-day moving average price of $23.92.

Sable Offshore (NYSE:SOC - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $21.00 million. Sell-side analysts expect that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $25.37, for a total value of $3,648,358.22. Following the completion of the sale, the insider now directly owns 10,100,569 shares in the company, valued at $256,251,435.53. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 36.36% of the company's stock.

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.