Voya Investment Management LLC Has $350,000 Stock Holdings in Sable Offshore Corp. $SOC

Voya Investment Management LLC lessened its holdings in Sable Offshore Corp. (NYSE:SOC) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,781 shares of the company’s stock after selling 1,574 shares during the period. Voya Investment Management LLC’s holdings in Sable Offshore were worth $350,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in Sable Offshore by 36.2% in the first quarter. NewEdge Advisors LLC now owns 2,448 shares of the company’s stock worth $62,000 after purchasing an additional 650 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Sable Offshore during the first quarter valued at approximately $29,000. Townsquare Capital LLC grew its stake in shares of Sable Offshore by 12.3% during the first quarter. Townsquare Capital LLC now owns 11,338 shares of the company’s stock valued at $288,000 after purchasing an additional 1,242 shares during the last quarter. US Bancorp DE boosted its stake in Sable Offshore by 62.2% in the first quarter. US Bancorp DE now owns 3,281 shares of the company’s stock valued at $83,000 after acquiring an additional 1,258 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sable Offshore by 4.4% in the first 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 during the last quarter. Institutional investors and hedge funds own 26.19% of the company’s stock.

Insider Activity at Sable Offshore

In related news, major shareholder Global Icav Pilgrim sold 167,175 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $21.98, for a total transaction of $3,674,506.50. Following the sale, the insider directly owned 9,933,394 shares in the company, valued at $218,336,000.12. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 36.36% of the stock is currently owned by insiders.

Sable Offshore Price Performance

Shares of SOC stock opened at $19.75 on Monday. Sable Offshore Corp. has a 12-month low of $16.26 and a 12-month high of $35.00. The firm has a fifty day moving average of $26.50 and a 200-day moving average of $24.60.

Sable Offshore (NYSE:SOC) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.44). Equities analysts predict that Sable Offshore Corp. will post -6.39 EPS for the current fiscal year.

Sable Offshore 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.