15,000 Shares in Sable Offshore Corp. (NYSE:SOC) Bought by Toronto Dominion Bank

Toronto Dominion Bank acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the company's stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Sable Offshore in the fourth quarter valued at approximately $53,000. IFP Advisors Inc acquired a new position in shares of Sable Offshore in the fourth quarter valued at approximately $81,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sable Offshore in the fourth quarter valued at approximately $144,000. Tower Research Capital LLC TRC increased its stake in shares of Sable Offshore by 917.0% in the fourth 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 period. Finally, Mission Wealth Management LP acquired a new stake in Sable Offshore during the 4th quarter valued at approximately $201,000. Institutional investors own 26.19% of the company's stock.

Insider Activity at Sable Offshore

In other Sable Offshore 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 value of $3,648,358.22. Following the sale, the insider now directly owns 10,100,569 shares in the company, valued at $256,251,435.53. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 36.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SOC has been the subject of a number of recent analyst reports. Benchmark increased their target price on shares of 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 reissued a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, May 13th. Roth Capital set a $37.00 price target on shares of Sable Offshore and gave the company a "buy" rating in a research report on Friday. Finally, Roth Mkm assumed 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. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Sable Offshore Stock Performance

NYSE:SOC traded down $5.00 during trading hours on Wednesday, hitting $27.93. 8,781,940 shares of the company traded hands, compared to its average volume of 1,329,792. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. Sable Offshore Corp. has a one year low of $13.66 and a one year high of $35.00. The firm's 50-day simple moving average is $23.30 and its 200-day simple moving average is $23.90.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.63). The company had revenue of $78.00 million during the quarter, compared to analyst estimates of $21.00 million. As a group, equities research analysts predict that Sable Offshore Corp. will post -6.39 EPS for the current 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.