Toronto Dominion Bank Acquires New Stake in Sable Offshore Corp. (NYSE:SOC)

Toronto Dominion Bank purchased a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,000 shares of the company's stock, valued at approximately $344,000.

Several other large investors also recently modified their holdings of SOC. Summit Securities Group LLC acquired a new position in shares of Sable Offshore during the 4th quarter valued at $53,000. IFP Advisors Inc acquired a new position in shares of Sable Offshore during the fourth quarter valued at about $81,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sable Offshore during the fourth quarter valued at about $144,000. Tower Research Capital LLC TRC boosted its position in shares of Sable Offshore by 917.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,448 shares of the company's stock worth $148,000 after purchasing an additional 5,814 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Sable Offshore in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 26.19% of the company's stock.

Insider Transactions at Sable Offshore

In related news, major shareholder Global Icav Pilgrim sold 143,806 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now owns 10,100,569 shares in the company, valued at approximately $256,251,435.53. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.36% of the company's stock.

Sable Offshore Trading Up 0.5%

SOC traded up $0.12 during midday trading on Thursday, reaching $23.22. 2,373,235 shares of the company were exchanged, compared to its average volume of 1,414,308. 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 company's fifty day moving average price is $23.35 and its 200 day moving average price is $24.07. Sable Offshore Corp. has a one year low of $13.66 and a one year high of $35.00.

Sable Offshore (NYSE:SOC - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.63). The firm had revenue of $78.00 million during the quarter, compared to analysts' expectations of $21.00 million. Equities research analysts forecast that Sable Offshore Corp. will post -6.39 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Sable Offshore in a research report on Monday, May 26th. Benchmark boosted 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. Roth Capital set a $37.00 target price on Sable Offshore and gave the company a "buy" rating in a research report on Friday, May 23rd. BWS Financial reaffirmed a "sell" rating and issued a $6.00 target price on shares of Sable Offshore in a research report on Tuesday, May 13th. Finally, Roth Mkm assumed coverage on Sable Offshore in a research report on Thursday, March 27th. They issued a "buy" rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, Sable Offshore has an average rating of "Moderate Buy" and an average target price of $30.33.

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.