Sable Offshore Corp. (NYSE:SOC - Get Free Report) major shareholder Global Icav Pilgrim sold 143,806 shares of the business'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 value of $3,648,358.22. Following the completion of the sale, the insider now directly owns 10,100,569 shares of the company's stock, valued at approximately $256,251,435.53. The trade was a 1.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Sable Offshore Stock Down 3.7 %
Shares of NYSE:SOC opened at $19.42 on Tuesday. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The stock's 50-day moving average is $24.33 and its 200-day moving average is $23.23. Sable Offshore Corp. has a 52-week low of $10.26 and a 52-week high of $32.33.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of Sable Offshore in the fourth quarter worth $53,000. IFP Advisors Inc bought a new position in shares of Sable Offshore during the 4th quarter worth about $81,000. ORG Wealth Partners LLC acquired a new position in shares of Sable Offshore during the fourth quarter valued at about $106,000. Salem Investment Counselors Inc. lifted its stake in shares of 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 buying an additional 2,250 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sable Offshore during the fourth quarter worth about $144,000. 26.19% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SOC has been the subject of several recent research reports. Roth Capital set a $30.00 target price 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 research report on Tuesday, March 18th. Roth Mkm began coverage on Sable Offshore in a research report on Thursday, March 27th. They issued a "buy" rating and a $30.00 price target for the company. Finally, BWS Financial reissued a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.50.
View Our Latest Research Report on SOC
About Sable Offshore
(
Get Free Report)
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.
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