US Bancorp DE Has $115,000 Stock Position in Sable Offshore Corp. (NYSE:SOC)

US Bancorp DE boosted its position in shares of Sable Offshore Corp. (NYSE:SOC) by 340.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,862 shares of the company’s stock after purchasing an additional 3,758 shares during the period. US Bancorp DE’s holdings in Sable Offshore were worth $115,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fayez Sarofim & Co purchased a new stake in shares of Sable Offshore in the first quarter worth approximately $32,880,000. Walleye Trading LLC purchased a new position in Sable Offshore in the first quarter valued at about $235,000. Bank of New York Mellon Corp acquired a new position in Sable Offshore in the 2nd quarter worth about $2,154,000. Emfo LLC acquired a new stake in shares of Sable Offshore during the 2nd quarter valued at about $371,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Sable Offshore in the 2nd quarter valued at approximately $86,000. 26.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sable Offshore news, major shareholder Global Icav Pilgrim purchased 750,000 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average price of $20.00 per share, with a total value of $15,000,000.00. Following the acquisition, the insider now directly owns 8,791,001 shares of the company’s stock, valued at $175,820,020. This represents a 9.33 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.30% of the stock is owned by company insiders.

Sable Offshore Stock Performance

SOC opened at $20.62 on Friday. 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 $22.36 and its two-hundred day moving average price is $17.51. The company has a quick ratio of 2.46, a current ratio of 2.73 and a debt-to-equity ratio of 6.48.

Sable Offshore (NYSE:SOC) last released its earnings results 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 predict that Sable Offshore Corp. will post -3.95 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on SOC shares. Jefferies Financial Group lifted their target price on shares of Sable Offshore from $19.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Benchmark reaffirmed a “buy” rating and issued a $37.00 price target on shares of Sable Offshore in a research report on Monday, October 7th. Johnson Rice initiated coverage on Sable Offshore in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, BWS Financial reaffirmed a “sell” rating and set a $6.00 target price on shares of Sable Offshore in a research report on Friday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Sable Offshore Company 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.