XTX Topco Ltd Buys 17,337 Shares of Sable Offshore Corp. (NYSE:SOC)

XTX Topco Ltd grew its stake in shares of Sable Offshore Corp. (NYSE:SOC - Free Report) by 101.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,505 shares of the company's stock after purchasing an additional 17,337 shares during the quarter. XTX Topco Ltd's holdings in Sable Offshore were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 acquiring an additional 665,407 shares in the last quarter. State Street Corp raised its holdings in shares of Sable Offshore by 74.3% during the third quarter. State Street Corp now owns 1,589,395 shares of the company's stock valued at $37,557,000 after acquiring an additional 677,426 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 177,971 shares in the last quarter. GM Advisory Group LLC raised its holdings in shares of Sable Offshore by 17.6% during the fourth quarter. GM Advisory Group LLC now owns 600,000 shares of the company's stock valued at $13,740,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sable Offshore by 27.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 493,042 shares of the company's stock valued at $11,291,000 after acquiring an additional 107,475 shares in the last quarter. Hedge funds and other institutional investors own 26.19% of the company's stock.

Sable Offshore Trading Down 0.4 %

Shares of NYSE:SOC traded down $0.07 on Wednesday, hitting $18.63. 425,643 shares of the company traded hands, compared to its average volume of 1,521,964. Sable Offshore Corp. has a 52 week low of $10.26 and a 52 week high of $32.33. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. The stock has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $23.20.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Benchmark restated a "buy" rating on shares of Sable Offshore in a report on Tuesday, March 18th. BWS Financial reiterated a "sell" rating and issued a $6.00 price objective on shares of Sable Offshore in a report on Tuesday, March 18th. Roth Mkm began coverage on Sable Offshore in a report on Thursday, March 27th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Roth Capital set a $30.00 price objective on Sable Offshore in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Insider Activity

In other news, major shareholder Global Icav Pilgrim sold 143,806 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider now directly owns 10,100,569 shares in the company, valued at $256,251,435.53. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.30% of the company's stock.

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.