Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Sasol Limited (SSL)

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Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Sasol Limited (NYSE:SSL) by 377.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,800 shares of the oil and gas company’s stock after purchasing an additional 53,600 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sasol were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of SSL. Bank of New York Mellon Corp boosted its position in shares of Sasol by 274.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,441 shares of the oil and gas company’s stock valued at $5,424,000 after purchasing an additional 108,799 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Sasol during the 3rd quarter valued at about $2,628,000. Bamco Inc. NY boosted its position in shares of Sasol by 7.3% during the 3rd quarter. Bamco Inc. NY now owns 764,281 shares of the oil and gas company’s stock valued at $29,532,000 after purchasing an additional 52,300 shares in the last quarter. Henry James International Management Inc. bought a new position in shares of Sasol during the 4th quarter valued at about $591,000. Finally, Mackenzie Financial Corp bought a new position in shares of Sasol during the 4th quarter valued at about $577,000. Institutional investors own 2.14% of the company’s stock.

SSL has been the subject of several research reports. TD Securities restated an “average” rating and set a $7.50 price objective on shares of Sasol in a research report on Thursday, November 15th. Zacks Investment Research upgraded shares of Sasol from a “sell” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, January 29th. Bank of America lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 11th. Finally, Macquarie lowered shares of Sasol from an “outperform” rating to a “neutral” rating in a research report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Sasol currently has a consensus rating of “Hold” and an average target price of $20.75.

Shares of SSL opened at $30.09 on Friday. Sasol Limited has a one year low of $27.40 and a one year high of $39.73. The stock has a market capitalization of $19.28 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.86 and a beta of 0.82. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.50.

The company also recently announced a semiannual dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $0.4263 dividend. This represents a dividend yield of 2.81%. The ex-dividend date is Thursday, March 14th. Sasol’s payout ratio is 38.16%.

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About Sasol

Sasol Limited operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Australia, Canada, Gabon, and Australia.

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Institutional Ownership by Quarter for Sasol (NYSE:SSL)

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