Pictet Asset Management Holding SA Invests $11.28 Million in Sasol Ltd. $SSL

Pictet Asset Management Holding SA acquired a new position in shares of Sasol Ltd. (NYSE:SSL) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 870,698 shares of the oil and gas company’s stock, valued at approximately $11,284,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Atlas Capital Advisors Inc. acquired a new position in Sasol during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Sasol by 232.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $40,000 after purchasing an additional 6,957 shares during the last quarter. Blue Trust Inc. increased its position in Sasol by 48.9% during the 1st quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 2,992 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Sasol during the 4th quarter worth approximately $66,000. Institutional investors own 1.21% of the company’s stock.

Analyst Ratings Changes

SSL has been the topic of a number of research analyst reports. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. Zacks Research downgraded Sasol from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Weiss Ratings downgraded Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Sasol has an average rating of “Reduce”.

Insider Buying and Selling at Sasol

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the 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 completion of the sale, the executive vice president directly owned 16,313 shares in the company, valued at $214,352.82. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Sasol Stock Up 0.8%

Shares of NYSE SSL opened at $9.66 on Friday. The firm has a 50 day moving average price of $12.44 and a two-hundred day moving average price of $10.19. Sasol Ltd. has a 52-week low of $4.77 and a 52-week high of $14.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

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.