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

Sasol Ltd. (NYSE:SSL)’s share price gapped down prior to trading on Monday. The stock had previously closed at $17.22, but opened at $16.36. Sasol shares last traded at $16.44, with a volume of 248,040 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on SSL shares. Zacks Research raised Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings raised shares of Sasol from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Finally, Bank of America raised shares of Sasol from a “neutral” rating to a “buy” rating in a report on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Sasol Trading Up 1.2%

The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $11.91.

Sasol (NYSE:SSL) last released its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion for the quarter. On average, equities analysts expect that Sasol Ltd. will post 2.99 EPS for the current year.

Insider Activity

In other Sasol news, EVP Sandile Lawrence Siyaya sold 2,842 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $36,093.40. Following the completion of the transaction, the executive vice president owned 301 shares in the company, valued at approximately $3,822.70. This represents a 90.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walt Bruns sold 7,890 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $12.70, for a total transaction of $100,203.00. Following the completion of the sale, the chief financial officer owned 54,628 shares of the company’s stock, valued at $693,775.60. This trade represents a 12.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 60,412 shares of company stock valued at $800,983. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sasol

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of Sasol by 123.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock valued at $13,563,000 after purchasing an additional 762,796 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Sasol during the second quarter worth about $1,084,000. Sanctuary Advisors LLC purchased a new stake in Sasol during the first quarter worth about $1,231,000. Engineers Gate Manager LP grew its position in Sasol by 146.6% during the second quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company’s stock worth $821,000 after buying an additional 49,699 shares during the period. Finally, Quantinno Capital Management LP grew its position in Sasol by 40.6% during the first quarter. Quantinno Capital Management LP now owns 166,465 shares of the oil and gas company’s stock worth $2,157,000 after buying an additional 48,086 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

About Sasol

Sasol Limited is an integrated chemicals and energy company headquartered in Johannesburg, South Africa. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemical feedstocks and other products, including through Fischer–Tropsch processes. Its portfolio includes fuel components, solvents, alcohols, surfactants, waxes, polymers and other specialty and performance chemicals used in industrial and consumer applications.

Sasol’s operations have historically been centered in South Africa, where the company operates major energy and chemicals facilities, with additional manufacturing, research and marketing activities in international markets.