ANTIPODES PARTNERS Ltd Makes New Investment in Sable Offshore Corp. $SOC

ANTIPODES PARTNERS Ltd purchased a new position in Sable Offshore Corp. (NYSE:SOC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 364,050 shares of the company’s stock, valued at approximately $6,752,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOC. Cooper Creek Partners Management LLC purchased a new position in Sable Offshore during the second quarter worth about $24,465,000. Two Seas Capital LP bought a new stake in shares of Sable Offshore during the 2nd quarter valued at about $9,708,000. Capital Fund Management S.A. grew its holdings in shares of Sable Offshore by 172.6% during the second quarter. Capital Fund Management S.A. now owns 329,083 shares of the company’s stock worth $7,233,000 after purchasing an additional 208,359 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Sable Offshore by 102.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 351,887 shares of the company’s stock worth $7,734,000 after purchasing an additional 177,733 shares during the last quarter. Finally, Trek Financial LLC bought a new position in shares of Sable Offshore in the third quarter worth approximately $4,652,000. 26.19% of the stock is currently owned by institutional investors.

Sable Offshore Stock Down 0.2%

Shares of NYSE SOC opened at $8.92 on Friday. The firm’s fifty day moving average is $9.26 and its 200 day moving average is $13.97. Sable Offshore Corp. has a 52 week low of $3.72 and a 52 week high of $35.00. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -2.73 and a beta of 0.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SOC shares. Roth Mkm reiterated a “buy” rating on shares of Sable Offshore in a research report on Wednesday, December 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sable Offshore in a research note on Tuesday, January 27th. TD Cowen reaffirmed a “buy” rating on shares of Sable Offshore in a research note on Thursday, December 18th. Benchmark reaffirmed a “buy” rating on shares of Sable Offshore in a report on Thursday, January 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Sable Offshore in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Sable Offshore currently has a consensus rating of “Hold” and an average target price of $17.00.

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.