Sable Offshore Corp. (NYSE:SOC) Shares Sold by Numerai GP LLC

Numerai GP LLC lowered its position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 76.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,044 shares of the company's stock after selling 39,464 shares during the period. Numerai GP LLC's holdings in Sable Offshore were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Sable Offshore during the fourth quarter worth $53,000. IFP Advisors Inc acquired a new stake in shares of Sable Offshore during the 4th quarter worth about $81,000. KLP Kapitalforvaltning AS purchased a new stake in Sable Offshore in the 4th quarter valued at about $144,000. Tower Research Capital LLC TRC lifted its position in 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 last quarter. Finally, Mission Wealth Management LP acquired a new position in Sable Offshore in the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 26.19% of the company's stock.

Insider Buying and Selling 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 shares were sold at an average price of $25.37, for a total transaction of $3,648,358.22. Following the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.30% of the stock is owned by corporate insiders.

Sable Offshore Stock Down 0.1%

SOC traded down $0.03 during trading hours on Wednesday, hitting $32.73. 689,065 shares of the company's stock were exchanged, compared to its average volume of 1,249,138. 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 12-month low of $12.73 and a 12-month high of $35.00. The firm has a 50 day moving average of $22.62 and a 200 day moving average of $23.58.

Sable Offshore (NYSE:SOC - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $21.00 million. Analysts expect that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BWS Financial reiterated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, May 13th. Roth Mkm initiated coverage on shares of Sable Offshore in a report on Thursday, March 27th. They issued a "buy" rating and a $30.00 target price for the company. Benchmark upped their price target on Sable Offshore from $37.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Roth Capital set a $30.00 price objective on Sable Offshore in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Sable Offshore Company 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.