Barometer Capital Management Inc. lifted its position in shares of Sasol Ltd. (NYSE:SSL – Free Report) by 258.7% during the 1st quarter, HoldingsChannel reports. The fund owned 99,000 shares of the oil and gas company’s stock after purchasing an additional 71,400 shares during the period. Barometer Capital Management Inc.’s holdings in Sasol were worth $1,283,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of SSL. Millennium Management LLC increased its stake in shares of Sasol by 75.7% in the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after purchasing an additional 624,911 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Sasol by 1,627.3% in 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 purchasing an additional 966,539 shares during the period. Pictet Asset Management Holding SA acquired a new stake in Sasol in the first quarter valued at approximately $11,284,000. UBS Group AG increased its position in shares of Sasol by 52.0% in the fourth quarter. UBS Group AG now owns 835,052 shares of the oil and gas company’s stock valued at $5,436,000 after buying an additional 285,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sasol by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 680,048 shares of the oil and gas company’s stock worth $4,426,000 after buying an additional 6,109 shares during the period. 1.21% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Sasol
In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $13.14, for a total transaction 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. The trade was a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.
Sasol Trading Up 0.7%
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Investec initiated coverage on Sasol in a research report on Wednesday, June 17th. They set a “sell” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a report on Monday, June 15th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. Zacks Research downgraded shares of Sasol from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sasol currently has an average rating of “Reduce”.
Check Out Our Latest Stock Analysis on SSL
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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