Sable Offshore Corp. (NYSE:SOC – Get Free Report) major shareholder Global Icav Pilgrim bought 41,000 shares of Sable Offshore stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $15.45 per share, for a total transaction of $633,450.00. Following the purchase, the insider now owns 8,041,001 shares of the company’s stock, valued at $124,233,465.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Sable Offshore Stock Up 4.8 %
Shares of NYSE SOC traded up $0.76 during trading hours on Thursday, hitting $16.48. The company’s stock had a trading volume of 374,422 shares, compared to its average volume of 303,730. The company has a debt-to-equity ratio of 2.91, a current ratio of 2.80 and a quick ratio of 2.60. Sable Offshore Corp. has a 12 month low of $10.11 and a 12 month high of $17.30. The stock has a 50-day moving average price of $15.43.
Sable Offshore (NYSE:SOC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($2.75) EPS for the quarter, missing the consensus estimate of ($0.39) by ($2.36). Sell-side analysts forecast that Sable Offshore Corp. will post -1.6 earnings per share for the current year.
Institutional Trading of Sable Offshore
Analyst Upgrades and Downgrades
SOC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Sable Offshore in a research note on Tuesday, August 13th. They set a “buy” rating and a $19.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $24.00 target price on shares of Sable Offshore in a research note on Wednesday, July 24th.
Read Our Latest Analysis on SOC
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.
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