15,000 Shares in Sable Offshore Corp. (NYSE:SOC) Bought by BBR Partners LLC

BBR Partners LLC bought a new stake in Sable Offshore Corp. (NYSE:SOC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Sable Offshore in the 2nd quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Sable Offshore in the second quarter worth $86,000. US Bancorp DE boosted its position in shares of Sable Offshore by 340.4% during the third quarter. US Bancorp DE now owns 4,862 shares of the company’s stock worth $115,000 after purchasing an additional 3,758 shares in the last quarter. Covestor Ltd acquired a new position in shares of Sable Offshore in the 3rd quarter valued at $130,000. Finally, Spartan Fund Management Inc. bought a new stake in shares of Sable Offshore in the 2nd quarter valued at $162,000. Institutional investors own 26.19% of the company’s stock.

Insider Transactions at Sable Offshore

In other Sable Offshore news, major shareholder Global Icav Pilgrim bought 750,000 shares of Sable Offshore stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the insider now owns 8,791,001 shares of the company’s stock, valued at $175,820,020. This trade represents a 9.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Johnson Rice started coverage on shares of Sable Offshore in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a report on Monday, October 7th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Sable Offshore Trading Down 1.6 %

Shares of SOC stock opened at $23.92 on Thursday. The firm has a fifty day moving average of $22.38 and a 200-day moving average of $18.26. The company has a debt-to-equity ratio of 4.86, a current ratio of 3.50 and a quick ratio of 3.34. Sable Offshore Corp. has a 12-month low of $10.11 and a 12-month high of $28.67.

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.