17,168 Shares in Sable Offshore Corp. (NYSE:SOC) Acquired by XTX Topco Ltd

XTX Topco Ltd acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,168 shares of the company’s stock, valued at approximately $406,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in shares of Sable Offshore during the second quarter valued at $26,000. US Bancorp DE boosted its stake in Sable Offshore by 340.4% during the 3rd quarter. US Bancorp DE now owns 4,862 shares of the company’s stock valued at $115,000 after purchasing an additional 3,758 shares during the period. Covestor Ltd bought a new position in Sable Offshore in the 3rd quarter worth about $130,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Sable Offshore in the second quarter valued at approximately $86,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Sable Offshore in the third quarter valued at approximately $245,000. 26.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Sable Offshore news, major shareholder Global Icav Pilgrim acquired 750,000 shares of Sable Offshore stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $20.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the insider now owns 8,791,001 shares in the company, valued at approximately $175,820,020. This trade represents a 9.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Johnson Rice began coverage on Sable Offshore in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group boosted their price target on Sable Offshore from $19.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Benchmark reissued a “buy” rating and set a $37.00 price target on shares of Sable Offshore in a report on Monday, October 7th. Finally, BWS Financial restated a “sell” rating and set a $6.00 price objective on shares of Sable Offshore in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Sable Offshore Trading Up 4.7 %

Shares of NYSE:SOC opened at $20.88 on Monday. 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. The stock’s 50 day moving average price is $21.57 and its 200 day moving average price is $18.93.

Sable Offshore 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.