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

Sasol Ltd. (NYSE:SSL) shares 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised shares of 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 report on Monday, June 8th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research note on Monday. Wall Street Zen raised shares of Sasol from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Finally, Investec initiated coverage on Sasol in a report on Wednesday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sasol currently has a consensus rating of “Hold”.

Sasol Stock Performance

The stock’s 50 day moving average price is $13.02 and its 200-day moving average price is $9.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Insiders Place Their Bets

In other Sasol 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 transaction of $28,671.48. Following the sale, the executive vice president owned 16,313 shares of the company’s stock, valued at approximately $214,352.82. This trade represents a 11.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in Sasol by 4.6% during the first quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock valued at $271,000 after purchasing an additional 915 shares in the last quarter. Arkadios Wealth Advisors bought a new position in Sasol in the first quarter worth about $228,000. Quantinno Capital Management LP lifted its position in shares of 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 buying an additional 48,086 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Sasol by 14.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 159,063 shares of the oil and gas company’s stock valued at $2,061,000 after buying an additional 19,940 shares in the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of Sasol by 41.8% in the 1st quarter. Compound Planning Inc. now owns 14,678 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 4,330 shares in the last quarter. 1.21% of the stock is owned by 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.