Trek Financial LLC Purchases New Shares in Sable Offshore Corp. $SOC

Trek Financial LLC acquired a new position in shares of Sable Offshore Corp. (NYSE:SOC) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 266,422 shares of the company’s stock, valued at approximately $4,652,000.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Sable Offshore by 36.2% during the 1st 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sable Offshore by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,991 shares of the company’s stock valued at $761,000 after acquiring an additional 1,271 shares in the last quarter. CWM LLC raised its position in Sable Offshore by 1,262.8% during the second quarter. CWM LLC now owns 1,867 shares of the company’s stock worth $41,000 after acquiring an additional 1,730 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Sable Offshore by 41.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,985 shares of the company’s stock worth $154,000 after acquiring an additional 2,041 shares during the last quarter. Finally, KBC Group NV purchased a new position in Sable Offshore in the 2nd quarter valued at about $46,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Sable Offshore in a research note on Thursday, December 18th. Jefferies Financial Group reiterated a “buy” rating on shares of Sable Offshore in a report on Monday, December 29th. Benchmark restated a “buy” rating on shares of Sable Offshore in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sable Offshore in a research note on Thursday, October 30th. Finally, Roth Mkm reissued a “buy” rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.00.

Sable Offshore Price Performance

Shares of NYSE:SOC traded down $2.02 during trading on Friday, reaching $10.38. 15,462,984 shares of the company’s stock traded hands, compared to its average volume of 7,408,457. The company has a 50 day moving average of $7.68 and a 200-day moving average of $16.51. Sable Offshore Corp. has a 12 month low of $3.72 and a 12 month high of $35.00. The stock has a market capitalization of $1.50 billion, a P/E ratio of -3.18 and a beta of 0.40.

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

Sable Offshore Profile

Sable Offshore (NYSE:SOC) is an independent upstream oil and natural gas company specializing in offshore hydrocarbon exploration and production. The company identifies and secures exploration and development rights, conducts detailed seismic interpretation, and advances offshore prospects through appraisal and development phases. Its focus on the offshore environment drives investments in specialized drilling techniques, subsea infrastructure and production facility design.

Core business activities include offshore seismic surveys, the drilling of exploration and appraisal wells, installation and operation of production platforms or subsea systems, and well intervention services.