Sculptor Capital LP Sells 225,000 Shares of Sable Offshore Corp. (NYSE:SOC)

Sculptor Capital LP trimmed its position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,000 shares of the company's stock after selling 225,000 shares during the quarter. Sculptor Capital LP owned approximately 0.20% of Sable Offshore worth $4,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its holdings in Sable Offshore by 2.7% during the 4th quarter. Invesco Ltd. now owns 26,030 shares of the company's stock worth $596,000 after buying an additional 679 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sable Offshore by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,720 shares of the company's stock valued at $658,000 after purchasing an additional 1,000 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Sable Offshore by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 31,240 shares of the company's stock valued at $715,000 after purchasing an additional 1,634 shares during the period. Summit Securities Group LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at $53,000. Finally, Legal & General Group Plc lifted its stake in shares of Sable Offshore by 7.2% in the 4th quarter. Legal & General Group Plc now owns 43,284 shares of the company's stock valued at $991,000 after purchasing an additional 2,890 shares during the period. 26.19% of the stock is owned by institutional investors and hedge funds.

Sable Offshore Trading Down 0.9%

Shares of SOC traded down $0.30 during midday trading on Tuesday, hitting $32.72. The stock had a trading volume of 4,044,906 shares, compared to its average volume of 1,251,280. The company has a 50 day simple moving average of $22.62 and a two-hundred day simple moving average of $23.58. Sable Offshore Corp. has a twelve month low of $12.73 and a twelve month high of $35.00. 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 (NYSE:SOC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.63). The company had revenue of $78.00 million during the quarter, compared to analyst estimates of $21.00 million. Analysts anticipate that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOC. Roth Mkm began 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. BWS Financial reissued a "sell" rating and issued a $6.00 price target on shares of Sable Offshore in a research note on Tuesday, May 13th. Roth Capital set a $30.00 price target on Sable Offshore in a research note on Thursday, March 27th. Finally, Benchmark increased their price target on Sable Offshore from $37.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sable Offshore presently has an average rating of "Moderate Buy" and an average target price of $29.17.

Insider Transactions at Sable Offshore

In related news, major shareholder Global Icav Pilgrim sold 143,806 shares of the business'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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 14.30% 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. 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.