FNY Investment Advisers LLC Lowers Holdings in Sable Offshore Corp. (NYSE:SOC)

FNY Investment Advisers LLC reduced its holdings in shares of Sable Offshore Corp. (NYSE:SOC) by 93.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,170 shares of the company’s stock after selling 17,830 shares during the period. FNY Investment Advisers LLC’s holdings in Sable Offshore were worth $26,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Sable Offshore by 74.3% in the third quarter. State Street Corp now owns 1,589,395 shares of the company’s stock worth $37,557,000 after acquiring an additional 677,426 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in Sable Offshore during the 3rd quarter worth $31,735,000. Geode Capital Management LLC increased its holdings in Sable Offshore by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,051,177 shares of the company’s stock worth $24,844,000 after purchasing an additional 26,934 shares during the period. GM Advisory Group LLC increased its holdings in Sable Offshore by 370.3% during the 3rd quarter. GM Advisory Group LLC now owns 510,000 shares of the company’s stock worth $12,051,000 after purchasing an additional 401,559 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Sable Offshore by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,567 shares of the company’s stock valued at $9,111,000 after purchasing an additional 21,794 shares in the last quarter. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Stock Up 6.5 %

NYSE SOC opened at $24.32 on Thursday. Sable Offshore Corp. has a 12 month low of $10.11 and a 12 month high of $28.67. The company has a quick ratio of 3.34, a current ratio of 3.50 and a debt-to-equity ratio of 4.86. The firm’s fifty day moving average price is $22.46 and its 200 day moving average price is $20.20.

Wall Street Analyst Weigh In

SOC has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and set a $37.00 target price on shares of Sable Offshore in a research note on Monday, October 7th. Johnson Rice started coverage on shares of Sable Offshore in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price objective on the stock. Pickering Energy Partners began coverage on shares of Sable Offshore in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. Finally, BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Sable Offshore in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sable Offshore currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

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.