Sasol Ltd. (NYSE:SSL – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $13.00, but opened at $11.49. Sasol shares last traded at $11.4630, with a volume of 407,852 shares changing hands.
Analysts Set New Price Targets
SSL has been the subject of several research reports. Wall Street Zen raised Sasol from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Zacks Research downgraded Sasol from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research note on Monday. Finally, Weiss Ratings raised Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.
Get Our Latest Research Report on Sasol
Sasol Price Performance
Insider Transactions at Sasol
In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of Sasol stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the transaction, the executive vice president owned 16,313 shares in the company, valued at $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew 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 worth $6,381,000 after purchasing an additional 966,539 shares during the last quarter. UBS Group AG grew its holdings in shares of Sasol by 52.0% during the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock worth $5,436,000 after purchasing an additional 285,807 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Sasol during the second quarter worth about $52,000. Ariadne Wealth Management LP grew its holdings in shares of Sasol by 40.1% during the fourth quarter. Ariadne Wealth Management LP now owns 30,077 shares of the oil and gas company’s stock worth $196,000 after purchasing an additional 8,610 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Sasol during the fourth quarter worth about $117,000. Institutional investors own 1.21% of the company’s stock.
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.
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