Public Employees Retirement System of Ohio Invests $1.08 Million in Sasol Ltd. $SSL

Public Employees Retirement System of Ohio purchased a new stake in Sasol Ltd. (NYSE:SSL) in the second quarter, Holdings Channel reports. The firm purchased 110,410 shares of the oil and gas company’s stock, valued at approximately $1,084,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Sasol by 1,627.3% during the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after buying an additional 966,539 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in Sasol in the 1st quarter valued at $11,284,000. Assenagon Asset Management S.A. increased its stake in shares of Sasol by 123.3% in 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. Millennium Management LLC increased its stake in shares of Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after acquiring an additional 624,911 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new position in shares of Sasol during the 3rd quarter worth $3,079,000. Hedge funds and other institutional investors own 1.21% of the company’s stock.

Sasol Stock Up 8.3%

NYSE SSL opened at $13.29 on Wednesday. The stock has a fifty day simple moving average of $11.39 and a 200-day simple moving average of $11.74. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. Sasol Ltd. has a twelve month low of $5.24 and a twelve month high of $14.36.

Sasol (NYSE:SSL) last issued its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The company had revenue of $4.61 billion during the quarter. On average, sell-side analysts expect that Sasol Ltd. will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Sasol from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Wall Street Zen raised shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Saturday. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. Finally, Weiss Ratings raised shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Sasol 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.