FNY Investment Advisers LLC Has $382,000 Stock Position in Sable Offshore Corp. (NYSE:SOC)

FNY Investment Advisers LLC grew its stake in Sable Offshore Corp. (NYSE:SOC - Free Report) by 1,190.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,094 shares of the company's stock after purchasing an additional 13,924 shares during the quarter. FNY Investment Advisers LLC's holdings in Sable Offshore were worth $382,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SOC. Summit Securities Group LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at $53,000. IFP Advisors Inc acquired a new position in shares of Sable Offshore in the 4th quarter valued at $81,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sable Offshore in the 4th quarter valued at $144,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 purchasing an additional 5,814 shares during the period. Finally, Mission Wealth Management LP acquired a new position in shares of Sable Offshore in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 26.19% of the company's stock.

Insider Buying and Selling at Sable Offshore

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of Sable Offshore 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 sale, the insider now owns 10,100,569 shares of the company's stock, valued at $256,251,435.53. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 36.36% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SOC shares. BWS Financial reissued a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research note 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 Mkm started coverage on Sable Offshore in a research note on Thursday, March 27th. They set a "buy" rating and a $30.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Sable Offshore in a research note on Monday, May 26th. Finally, Roth Capital set a $37.00 price objective on Sable Offshore and gave the stock a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Sable Offshore presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

Sable Offshore Stock Down 0.7%

Sable Offshore stock traded down $0.16 during mid-day trading on Thursday, hitting $22.48. 1,572,633 shares of the company's stock were exchanged, compared to its average volume of 1,464,611. 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 3.04, a quick ratio of 1.57 and a current ratio of 1.67. The company's 50 day simple moving average is $23.87 and its 200-day simple moving average is $24.06.

Sable Offshore (NYSE:SOC - Get Free Report) last released its quarterly 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 business had revenue of $78.00 million during the quarter, compared to analysts' expectations of $21.00 million. As a group, analysts predict that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.

About Sable Offshore

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.