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

Shares of Sasol Ltd. (NYSE:SSL) gapped down prior to trading on Wednesday . The stock had previously closed at $12.96, but opened at $12.13. Sasol shares last traded at $11.9780, with a volume of 1,022,039 shares changing hands.

Analysts Set New Price Targets

SSL has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Sasol in a research report on Friday, January 16th. UBS Group lowered Sasol from a “buy” rating to a “neutral” rating in a report on Thursday, March 5th. The Goldman Sachs Group cut Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Wall Street Zen raised Sasol from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sasol presently has an average rating of “Hold”.

Sasol Stock Performance

The stock has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $7.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Institutional Trading of Sasol

A number of institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. purchased a new position in Sasol in the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Sasol by 232.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 3,920 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sasol by 107.9% during the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $40,000 after purchasing an additional 6,957 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in shares of Sasol in the 4th quarter valued at about $66,000. 1.21% of the stock is currently owned by hedge funds and other institutional investors.

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.