JPMorgan Chase & Co. Has $517,000 Stake in Sable Offshore Corp. (NYSE:SOC)

JPMorgan Chase & Co. trimmed its stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 81.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,594 shares of the company's stock after selling 97,438 shares during the quarter. JPMorgan Chase & Co.'s holdings in Sable Offshore were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Sable Offshore during the fourth quarter worth approximately $737,000. Emerald Advisers LLC acquired a new stake in Sable Offshore during the 4th quarter valued at $6,700,000. Vanguard Group Inc. raised its position in Sable Offshore by 23.6% in the 4th quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company's stock valued at $79,832,000 after purchasing an additional 665,407 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Sable Offshore during the fourth quarter worth $312,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sable Offshore in the fourth quarter valued at $144,000. 26.19% of the stock is currently owned by institutional investors.

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 transaction of $3,648,358.22. Following the transaction, the insider now directly owns 10,100,569 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 14.30% of the company's stock.

Sable Offshore Stock Up 2.0 %

Shares of SOC stock traded up $0.41 during trading hours on Friday, reaching $20.42. The company had a trading volume of 1,236,152 shares, compared to its average volume of 1,132,994. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50. Sable Offshore Corp. has a 1-year low of $10.40 and a 1-year high of $32.33. The company has a 50 day moving average of $22.45 and a 200 day moving average of $23.16.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOC. Roth Capital set a $30.00 price target on shares of Sable Offshore in a research report on Thursday, March 27th. Benchmark reissued a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Mkm assumed coverage on Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 price objective on the stock. Finally, BWS Financial reissued a "sell" rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Sable Offshore currently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

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.