Clough Capital Partners L P Purchases Shares of 172,830 Sable Offshore Corp. $SOC

Clough Capital Partners L P purchased a new stake in shares of Sable Offshore Corp. (NYSE:SOC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 172,830 shares of the company’s stock, valued at approximately $1,559,000. Clough Capital Partners L P owned 0.12% of Sable Offshore as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position 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 valued at $62,000 after buying an additional 650 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Sable Offshore during the 4th quarter valued at about $37,000. Aster Capital Management DIFC Ltd lifted its position in shares of Sable Offshore by 263.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,230 shares of the company’s stock valued at $47,000 after buying an additional 3,790 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Sable Offshore by 65.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $165,000 after buying an additional 2,960 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Sable Offshore by 2,673.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,711 shares of the company’s stock valued at $135,000 after buying an additional 7,433 shares in the last quarter. 26.19% of the stock is owned by hedge funds and other institutional investors.

Sable Offshore Trading Up 2.6%

NYSE SOC opened at $10.25 on Thursday. The stock’s 50 day moving average is $13.40 and its 200 day moving average is $11.51. Sable Offshore Corp. has a 12 month low of $3.72 and a 12 month high of $32.18. The stock has a market cap of $1.58 billion, a PE ratio of -2.40 and a beta of -0.22.

Sable Offshore (NYSE:SOC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.85). The company had revenue of $1.27 million during the quarter, compared to the consensus estimate of $16.10 million. On average, analysts forecast that Sable Offshore Corp. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gregory D. Patrinely sold 279,081 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.69, for a total value of $4,657,861.89. Following the transaction, the executive vice president directly owned 442,794 shares of the company’s stock, valued at approximately $7,390,231.86. The trade was a 38.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Caldwell Flores sold 279,081 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $16.69, for a total value of $4,657,861.89. Following the completion of the transaction, the chief operating officer directly owned 442,794 shares in the company, valued at approximately $7,390,231.86. This represents a 38.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,077,406 shares of company stock valued at $17,202,083. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SOC shares. Roth Mkm set a $22.00 price objective on Sable Offshore in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sable Offshore in a research report on Friday, April 24th. Wall Street Zen cut Sable Offshore from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Zacks Research cut Sable Offshore from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group lowered their price objective on Sable Offshore from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Sable Offshore presently has a consensus rating of “Hold” and an average target price of $22.00.

About Sable Offshore

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.