Sable Offshore Corp. (NYSE:SOC) Stock Holdings Trimmed by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC cut its holdings in Sable Offshore Corp. (NYSE:SOC - Free Report) by 54.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company's stock after selling 300,000 shares during the quarter. Ghisallo Capital Management LLC owned approximately 0.28% of Sable Offshore worth $5,725,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SOC. Vanguard Group Inc. lifted its stake in shares of Sable Offshore by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 3,486,126 shares of the company's stock valued at $79,832,000 after buying an additional 665,407 shares during the period. Geode Capital Management LLC lifted its stake in shares of Sable Offshore by 16.9% during the fourth quarter. Geode Capital Management LLC now owns 1,229,148 shares of the company's stock valued at $28,155,000 after buying an additional 177,971 shares during the period. Greenhaven Road Investment Management L.P. lifted its stake in shares of Sable Offshore by 24.3% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 623,364 shares of the company's stock valued at $14,275,000 after buying an additional 121,751 shares during the period. GM Advisory Group LLC boosted its holdings in shares of Sable Offshore by 17.6% in the 4th quarter. GM Advisory Group LLC now owns 600,000 shares of the company's stock valued at $13,740,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sable Offshore by 27.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 493,042 shares of the company's stock valued at $11,291,000 after purchasing an additional 107,475 shares during the last quarter. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sable Offshore

In other news, major shareholder Global Icav Pilgrim sold 143,806 shares of Sable Offshore stock in a transaction dated Thursday, April 17th. The stock was 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 of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Sable Offshore Stock Down 3.7 %

NYSE:SOC traded down $0.75 during mid-day trading on Tuesday, hitting $19.56. The company had a trading volume of 771,903 shares, compared to its average volume of 1,120,214. The business has a fifty day simple moving average of $23.01 and a 200-day simple moving average of $23.16. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86. Sable Offshore Corp. has a 1 year low of $10.26 and a 1 year high of $32.33.

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.