Gregory Phillip Pipkin Sells 82,238 Shares of Sable Offshore Corp. (NYSE:SOC) Stock

Sable Offshore Corp. (NYSE:SOCGet Free Report) Director Gregory Phillip Pipkin sold 82,238 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $14.66, for a total transaction of $1,205,609.08. Following the sale, the director now owns 85,540 shares in the company, valued at $1,254,016.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Sable Offshore Price Performance

Shares of NYSE:SOC opened at $14.82 on Friday. Sable Offshore Corp. has a 12 month low of $10.11 and a 12 month high of $15.70. The stock’s 50 day moving average price is $12.01. The company has a debt-to-equity ratio of 2.91, a quick ratio of 2.60 and a current ratio of 2.80.

Hedge Funds Weigh In On Sable Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clarus Group Inc. purchased a new position in shares of Sable Offshore in the first quarter valued at $325,000. Fayez Sarofim & Co purchased a new position in Sable Offshore during the 1st quarter valued at about $32,880,000. Finally, Walleye Trading LLC acquired a new position in Sable Offshore during the first quarter worth about $235,000. 26.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TD Cowen started coverage on shares of Sable Offshore in a report on Monday, February 26th. They set an “outperform” rating and a $20.00 price objective on the stock.

View Our Latest Stock Report on SOC

About Sable Offshore

(Get Free Report)

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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