1,113,062 Shares in Sable Offshore Corp. $SOC Purchased by Cooper Creek Partners Management LLC

Cooper Creek Partners Management LLC acquired a new position in Sable Offshore Corp. (NYSE:SOC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,113,062 shares of the company’s stock, valued at approximately $24,465,000.

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of Sable Offshore by 36.2% in the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock worth $62,000 after buying an additional 650 shares during the period. SVB Wealth LLC purchased a new position in Sable Offshore during the 1st quarter valued at $29,000. Townsquare Capital LLC grew its position in Sable Offshore by 12.3% in the 1st quarter. Townsquare Capital LLC now owns 11,338 shares of the company’s stock valued at $288,000 after acquiring an additional 1,242 shares during the last quarter. US Bancorp DE increased its stake in Sable Offshore by 62.2% in the first quarter. US Bancorp DE now owns 3,281 shares of the company’s stock worth $83,000 after purchasing an additional 1,258 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sable Offshore by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,991 shares of the company’s stock worth $761,000 after purchasing an additional 1,271 shares during the last quarter. Institutional investors own 26.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SOC. Roth Capital restated a “buy” rating on shares of Sable Offshore in a report on Monday, December 1st. Jefferies Financial Group reduced their target price on shares of Sable Offshore from $38.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sable Offshore in a research note on Thursday, October 30th. Finally, Benchmark reduced their price objective on Sable Offshore from $47.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.60.

Sable Offshore Stock Performance

NYSE SOC opened at $5.65 on Friday. The company has a market cap of $819.02 million, a PE ratio of -1.73 and a beta of 0.51. The firm’s 50 day moving average price is $10.42 and its 200-day moving average price is $20.33. Sable Offshore Corp. has a 52-week low of $3.72 and a 52-week high of $35.00.

Sable Offshore (NYSE:SOC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.21). On average, analysts forecast that Sable Offshore Corp. will post -6.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Sable Offshore

In related news, major shareholder Global Icav Pilgrim acquired 982,645 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were bought at an average price of $15.04 per share, with a total value of $14,778,980.80. Following the completion of the transaction, the insider directly owned 10,933,394 shares in the company, valued at $164,438,245.76. This trade represents a 9.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.36% of the stock is owned by company insiders.

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.