Sable Offshore Corp. (NYSE:SOC) Shares Purchased by Mariner LLC

Mariner LLC grew its holdings in Sable Offshore Corp. (NYSE:SOC - Free Report) by 232.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,496 shares of the company's stock after purchasing an additional 27,604 shares during the period. Mariner LLC's holdings in Sable Offshore were worth $904,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Sable Offshore by 342.9% in the third quarter. Barclays PLC now owns 77,583 shares of the company's stock valued at $1,832,000 after acquiring an additional 60,065 shares during the period. Virtu Financial LLC bought a new stake in shares of Sable Offshore during the third quarter worth approximately $521,000. JPMorgan Chase & Co. raised its stake in shares of Sable Offshore by 153.6% during the third quarter. JPMorgan Chase & Co. now owns 120,032 shares of the company's stock worth $2,836,000 after buying an additional 72,694 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Sable Offshore in the fourth quarter valued at approximately $106,000. Finally, Salem Investment Counselors Inc. increased its stake in Sable Offshore by 81.8% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,000 shares of the company's stock valued at $114,000 after purchasing an additional 2,250 shares in the last quarter. Institutional investors and hedge funds own 26.19% of the company's stock.

Insiders Place Their Bets

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $25.37, for a total transaction of $3,648,358.22. Following the completion of the sale, the insider now owns 10,100,569 shares of the company's stock, valued at $256,251,435.53. This represents a 1.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sable Offshore Stock Up 7.3 %

SOC traded up $1.37 during trading on Thursday, reaching $20.03. 983,278 shares of the company were exchanged, compared to its average volume of 1,124,430. The company's 50-day moving average is $22.81 and its two-hundred day moving average is $23.13. Sable Offshore Corp. has a 12-month low of $10.30 and a 12-month high of $32.33. The company has a debt-to-equity ratio of 4.86, a quick ratio of 3.34 and a current ratio of 3.50.

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.