Sable Offshore Corp. (NYSE:SOC) Stock Holdings Increased by Greenhaven Road Investment Management L.P.

Greenhaven Road Investment Management L.P. increased its position in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,364 shares of the company's stock after acquiring an additional 121,751 shares during the quarter. Sable Offshore comprises 2.3% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 7th biggest position. Greenhaven Road Investment Management L.P. owned 0.70% of Sable Offshore worth $14,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Sable Offshore during the 4th quarter valued at about $53,000. IFP Advisors Inc purchased a new position in shares of Sable Offshore during the 4th quarter valued at about $81,000. ORG Wealth Partners LLC acquired a new position in shares of Sable Offshore in the 4th quarter valued at about $106,000. Salem Investment Counselors Inc. boosted 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 worth $114,000 after buying an additional 2,250 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Sable Offshore in the fourth quarter worth about $144,000. 26.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sable Offshore news, major shareholder Global Icav Pilgrim sold 143,806 shares of the firm'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 transaction, the insider now directly owns 10,100,569 shares of the company's stock, valued at $256,251,435.53. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.30% of the stock is currently owned by company insiders.

Sable Offshore Stock Up 0.7 %

SOC traded up $0.13 on Wednesday, hitting $18.83. 669,991 shares of the company's stock were exchanged, compared to its average volume of 1,100,756. Sable Offshore Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $32.33. The firm has a 50-day moving average price of $24.10 and a 200-day moving average price of $23.20. The company has a current ratio of 3.50, a quick ratio of 3.34 and a debt-to-equity ratio of 4.86.

Analysts Set New Price Targets

Several research firms have commented on SOC. Benchmark restated a "buy" rating on shares of Sable Offshore in a research report on Tuesday, March 18th. Roth Mkm assumed coverage on shares of Sable Offshore in a report on Thursday, March 27th. They set a "buy" rating and a $30.00 price target on the stock. BWS Financial restated a "sell" rating and set a $6.00 price target on shares of Sable Offshore in a research report on Tuesday, March 18th. Finally, Roth Capital set a $30.00 target price on shares of Sable Offshore in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Sable Offshore presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

About Sable Offshore

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.