Sasol (NYSE:SSL) Shares Gap Down – Should You Sell?

Sasol Ltd. (NYSE:SSL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $15.11, but opened at $14.62. Sasol shares last traded at $14.5750, with a volume of 190,568 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on SSL. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Investec initiated coverage on shares of Sasol in a research report on Wednesday, June 17th. They issued a “sell” rating for the company. Weiss Ratings raised shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Bank of America raised shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sasol currently has an average rating of “Hold”.

Sasol Stock Down 4.8%

The firm’s fifty day simple moving average is $11.88 and its 200 day simple moving average is $11.95. 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 (NYSE:SSL) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $4.61 billion during the quarter. On average, sell-side analysts forecast that Sasol Ltd. will post 2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in Sasol by 35.5% in the second quarter. Sequoia Financial Advisors LLC now owns 47,869 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 12,529 shares during the last quarter. Arlington Capital Management Inc. bought a new position in Sasol during the second quarter valued at $255,000. Engineers Gate Manager LP grew its stake in shares of Sasol by 146.6% in the 2nd quarter. Engineers Gate Manager LP now owns 83,589 shares of the oil and gas company’s stock worth $821,000 after buying an additional 49,699 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Sasol by 38.7% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 107,176 shares of the oil and gas company’s stock worth $1,052,000 after buying an additional 29,879 shares in the last quarter. Finally, Corient Private Wealth LP increased its holdings in shares of Sasol by 42.3% in the 2nd quarter. Corient Private Wealth LP now owns 48,279 shares of the oil and gas company’s stock worth $474,000 after buying an additional 14,355 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors.

Sasol Company Profile

Sasol Limited is a South African integrated chemicals and energy company listed on the New York Stock Exchange under the symbol SSL. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemicals and other value-added products, with operations and customers in South Africa and international markets.

Its portfolio includes liquid fuels, solvents, alcohols, surfactants, polymers, waxes, ammonia and other chemical products used in sectors such as mining, manufacturing, agriculture, automotive, personal care and household products.