Sasol (NYSE:SSL) Shares Gap Down – What’s Next?

Sasol Ltd. (NYSE:SSL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $11.11, but opened at $10.46. Sasol shares last traded at $10.5050, with a volume of 390,320 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on SSL. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. Finally, Investec started coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sasol has a consensus rating of “Hold”.

Sasol Stock Performance

The stock has a 50-day moving average of $12.74 and a 200 day moving average of $10.07. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53.

Insider Transactions at Sasol

In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the transaction, the executive vice president owned 16,313 shares of the company’s stock, valued at approximately $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Atlas Capital Advisors Inc. acquired a new stake in Sasol in the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd lifted its holdings in Sasol by 232.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after buying an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after buying an additional 6,957 shares in the last quarter. Blue Trust Inc. boosted its position in Sasol by 48.9% in the 1st quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 2,992 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Sasol in the 4th quarter valued at $66,000. 1.21% of the stock is owned by institutional investors.

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.