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

Sasol Ltd. (NYSE:SSL) gapped down before the market opened on Monday . The stock had previously closed at $13.00, but opened at $11.49. Sasol shares last traded at $11.4630, with a volume of 407,852 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research note on Monday. Weiss Ratings raised Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Zacks Research cut shares of Sasol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised shares of Sasol from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Sasol Price Performance

The firm’s 50 day moving average price is $13.06 and its two-hundred day moving average price is $9.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Insider Buying and Selling at Sasol

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $13.14, for a total value of $28,671.48. Following the completion of the transaction, the executive vice president directly owned 16,313 shares of the company’s stock, valued at approximately $214,352.82. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of Sasol by 4.6% in the first quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 915 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in Sasol by 5.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,723 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 1,593 shares during the last quarter. PDS Planning Inc lifted its holdings in Sasol by 15.3% during the 4th quarter. PDS Planning Inc now owns 14,269 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,893 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Sasol by 3.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,848 shares of the oil and gas company’s stock valued at $391,000 after purchasing an additional 2,334 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Sasol by 11.5% during the 3rd quarter. US Bancorp DE now owns 26,354 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 2,719 shares during the last quarter. 1.21% of the stock is owned by institutional investors.

About Sasol

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.