Sasol (NYSE:SSL) Shares Gap Down – Here’s Why

Sasol Ltd. (NYSE:SSL)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $15.11, but opened at $14.62. Sasol shares last traded at $14.5750, with a volume of 190,568 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SSL shares. Bank of America raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 9th. Investec assumed coverage on Sasol in a research report on Wednesday, June 17th. They issued a “sell” rating on the stock. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Finally, UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sasol Trading Down 4.8%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79. The firm has a fifty day moving average price of $11.88 and a two-hundred day moving average price of $11.95.

Sasol (NYSE:SSL) last issued its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The firm had revenue of $4.61 billion during the quarter. As a group, analysts forecast that Sasol Ltd. will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Sasol

A number of institutional investors and hedge funds have recently made changes to their positions in SSL. Assenagon Asset Management S.A. boosted its stake in shares of Sasol by 123.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock worth $13,563,000 after acquiring an additional 762,796 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in Sasol in the 1st quarter worth $11,284,000. Arrowstreet Capital Limited Partnership lifted its position in Sasol by 3.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 796,208 shares of the oil and gas company’s stock valued at $10,319,000 after purchasing an additional 23,994 shares in the last quarter. UBS Group AG lifted its position in Sasol by 52.0% during the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after purchasing an additional 285,807 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings 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 valued at $2,157,000 after purchasing an additional 48,086 shares during the period. Hedge funds and other institutional investors own 1.21% of the company’s stock.

Sasol Company Profile

Sasol Limited is a South African integrated chemicals and energy company listed on the New York Stock Exchange under the symbol SSL. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemicals and other value-added products, with operations and customers in South Africa and international markets.

Its portfolio includes liquid fuels, solvents, alcohols, surfactants, polymers, waxes, ammonia and other chemical products used in sectors such as mining, manufacturing, agriculture, automotive, personal care and household products.