Sasol (NYSE:SSL) Shares Gap Up – What’s Next?

Shares of Sasol Ltd. (NYSE:SSL) gapped up before the market opened on Friday . The stock had previously closed at $10.60, but opened at $11.26. Sasol shares last traded at $11.2740, with a volume of 1,659,504 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SSL shares. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Wall Street Zen upgraded Sasol from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group lowered shares of Sasol from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Zacks Research upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Sasol currently has an average rating of “Hold”.

Sasol Trading Up 6.7%

The business has a 50 day moving average price of $7.80 and a 200 day moving average price of $6.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Hedge Funds Weigh In On Sasol

Hedge funds have recently bought and sold shares of the business. Atlas Capital Advisors Inc. purchased a new stake in Sasol in the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Sasol by 232.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,606 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Sasol during the second quarter valued at $52,000. Finally, GAMMA Investing LLC grew its holdings in shares of Sasol by 107.9% in the third quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares during the last quarter. Institutional investors 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.