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

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened 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 traded.

Analyst Ratings Changes

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

Sasol Price Performance

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 business has a 50-day simple moving average of $14.44 and a two-hundred day simple moving average of $11.83.

Sasol (NYSE:SSL) last issued its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The business had revenue of $4.61 billion for the quarter. On average, sell-side analysts forecast that Sasol Ltd. will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sasol

In related news, EVP Vuyo Dominic Kahla sold 22,608 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $287,121.60. Following the completion of the transaction, the executive vice president owned 114,792 shares in the company, valued at approximately $1,457,858.40. This represents a 16.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sandile Lawrence Siyaya sold 2,842 shares of the firm’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 directly owned 301 shares of the company’s stock, valued at approximately $3,822.70. This trade represents a 90.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 60,412 shares of company stock worth $800,983. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Sasol

A number of large investors have recently modified their holdings of SSL. Ascent Group LLC bought a new position in shares of Sasol in the 3rd quarter valued at about $152,000. Integrity Alliance LLC. bought a new stake in Sasol during the third quarter worth about $144,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sasol during the third quarter worth about $1,085,000. Vise Technologies Inc. acquired a new position in Sasol during the third quarter valued at approximately $216,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in Sasol by 16.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 7,385 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 1,033 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Company Profile

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.