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

Sasol Ltd. (NYSE:SSL)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $16.34, but opened at $15.60. Sasol shares last traded at $15.8150, with a volume of 191,480 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sasol Price Performance

The firm’s fifty day moving average price is $13.40 and its 200-day moving average price is $12.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79.

Sasol (NYSE:SSL) last issued its quarterly earnings data 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 during the quarter. On average, sell-side analysts anticipate that Sasol Ltd. will post 2.71 EPS for the current year.

Insider Activity

In other Sasol news, EVP Vuyo Dominic Kahla sold 21,640 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $14.14, for a total transaction of $305,989.60. Following the completion of the sale, the executive vice president owned 114,792 shares in the company, valued at approximately $1,623,158.88. The trade was a 15.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Walt Bruns sold 1,798 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $14.14, for a total transaction of $25,423.72. Following the completion of the transaction, the chief financial officer directly owned 54,819 shares of the company’s stock, valued at approximately $775,140.66. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have 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 and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings 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. Public Employees Retirement System of Ohio bought a new position in Sasol in the second quarter valued at $1,084,000. Sanctuary Advisors LLC bought a new position in Sasol in the first quarter valued at $1,231,000. Engineers Gate Manager LP raised 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 valued at $821,000 after purchasing an additional 49,699 shares in the last quarter. Finally, Quantinno Capital Management LP raised 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 valued at $2,157,000 after purchasing an additional 48,086 shares in the last quarter. 1.21% of the stock is owned by hedge funds and other institutional investors.

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.