Sasol (NYSE:SSL) Trading Down 4.2% – Here’s Why

Sasol Ltd. (NYSE:SSL) dropped 4.2% on Monday . The company traded as low as $11.13 and last traded at $11.2050. 403,851 shares traded hands during trading, a decline of 80% from the average daily volume of 2,058,973 shares. The stock had previously closed at $11.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SSL shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings downgraded Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Investec initiated coverage on Sasol in a research report on Wednesday, June 17th. They issued a “sell” rating on the stock. Finally, Zacks Research cut shares of Sasol from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Sasol has a consensus rating of “Reduce”.

Sasol Stock Down 0.2%

The company has a quick ratio of 1.09, a current ratio of 1.66 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $11.40 and a two-hundred day moving average of $10.92.

Insider Activity

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 16,313 shares in the company, valued at $214,352.82. This trade represents a 11.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of Sasol

Institutional investors have recently modified their holdings of the stock. Ramsey Quantitative Systems acquired a new position in shares of Sasol during the 2nd quarter worth about $68,000. Assenagon Asset Management S.A. raised its holdings in shares of Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company’s stock valued at $13,563,000 after acquiring an additional 762,796 shares during the last quarter. Basecamp Wealth Advisors LLC lifted its position in shares of Sasol by 349.2% in the first quarter. Basecamp Wealth Advisors LLC now owns 12,601 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 9,796 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Sasol by 4.6% in the first quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 915 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Sasol during the first quarter worth approximately $228,000. Institutional investors and hedge funds own 1.21% of the company’s stock.

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.