Sasol (NYSE:SSL) Shares Gap Down – Should You Sell?

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.96, but opened at $12.13. Sasol shares last traded at $11.9780, with a volume of 1,022,039 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SSL shares. UBS Group cut Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Zacks Research upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Sasol Stock Performance

The stock’s 50 day simple moving average is $9.19 and its two-hundred day simple moving average is $7.38. The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53.

Institutional Trading of Sasol

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Sasol by 75.7% during the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after acquiring an additional 624,911 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sasol by 1,627.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after acquiring an additional 966,539 shares in the last quarter. American Century Companies Inc. lifted its position in Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after acquiring an additional 180,827 shares during the last quarter. UBS Group AG grew its holdings in shares of Sasol by 52.0% during the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock worth $5,436,000 after purchasing an additional 285,807 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Sasol by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 680,048 shares of the oil and gas company’s stock valued at $4,426,000 after purchasing an additional 6,109 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Company Profile

Sasol Limited is an integrated energy and chemical company headquartered in Johannesburg, South Africa. The company’s core operations encompass the conversion of natural gas, coal and heavy hydrocarbons into liquid fuels and a wide array of chemical products. Sasol leverages proprietary Fischer-Tropsch and gas-to-liquids (GTL) technologies to deliver cleaner-burning diesel, jet fuel and naphtha, alongside solvents, surfactants and specialty polymers for industrial and consumer applications.

In addition to its GTL business, Sasol operates downstream facilities for the manufacture of alpha olefins, ethylene, propylene and other base-chemical intermediates.