Sable Offshore (NYSE:SOC) Sees Unusually-High Trading Volume

Shares of Sable Offshore Corp. (NYSE:SOC - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 180,055 shares were traded during trading, an increase of 65% from the previous session's volume of 109,334 shares.The stock last traded at $10.79 and had previously closed at $10.54.

Analysts Set New Price Targets

Separately, TD Cowen started coverage on Sable Offshore in a research report on Monday, February 26th. They issued an "outperform" rating and a $20.00 target price for the company.

Sable Offshore Price Performance

The stock has a 50-day moving average price of $11.42.

Insider Buying and Selling at Sable Offshore

In other news, President James Caldwell Flores purchased 300,000 shares of the business's stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $10.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the president now directly owns 371,875 shares in the company, valued at approximately $3,718,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Christopher Binyon Sarofim acquired 6,000,000 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $60,000,000.00. Following the purchase, the director now owns 3,000,000 shares in the company, valued at approximately $30,000,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President James Caldwell Flores acquired 300,000 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $10.00 per share, with a total value of $3,000,000.00. Following the completion of the purchase, the president now owns 371,875 shares in the company, valued at approximately $3,718,750. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sable Offshore stock. Clarus Group Inc. acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,613 shares of the company's stock, valued at approximately $325,000. Institutional investors own 26.19% of the company's stock.

Sable Offshore Company Profile

Sable Offshore Corp. engages in the oil and gas exploration and development activities in the United States. It operates through three platforms located offshore California and an onshore processing facility comprised of 16 federal leases across approximately 76,000 acres. The company was formerly known as Flame Acquisition Corp.