Sasol (NYSE:SSL) Shares Gap Up – Should You Buy?

Sasol Ltd. (NYSE:SSL) gapped up prior to trading on Friday . The stock had previously closed at $10.90, but opened at $11.31. Sasol shares last traded at $11.4050, with a volume of 209,139 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SSL shares. Weiss Ratings upgraded Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Wall Street Zen lowered Sasol from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Investec started coverage on shares of Sasol in a research report on Wednesday, June 17th. They set a “sell” rating for the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a report on Monday, June 15th. Finally, UBS Group raised shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Sasol Trading Up 4.1%

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 simple moving average of $11.84 and a 200-day simple moving average of $10.49.

Insider Transactions at Sasol

In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $13.14, for a total value of $28,671.48. Following the completion of the sale, the executive vice president directly owned 16,313 shares in the company, valued at approximately $214,352.82. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Sasol

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of 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 valued at $6,381,000 after acquiring an additional 966,539 shares in the last quarter. UBS Group AG grew its position in Sasol by 52.0% in the 4th quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after purchasing an additional 285,807 shares during the period. Sivia Capital Partners LLC bought a new stake in Sasol during the 2nd quarter valued at $52,000. Assenagon Asset Management S.A. acquired a new position in Sasol during the first quarter worth $8,015,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Sasol in the first quarter valued at $11,284,000. 1.21% of the stock is owned by institutional investors.

About Sasol

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.