Sasol (NYSE:SSL) Shares Down 4.2% – Here’s Why

Sasol Ltd. (NYSE:SSL)’s share price traded down 4.2% on Monday . The stock traded as low as $11.13 and last traded at $11.2050. Approximately 403,851 shares changed hands during trading, a decline of 80% from the average session volume of 2,058,973 shares. The stock had previously closed at $11.70.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings cut Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Zacks Research downgraded Sasol from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Finally, Investec initiated coverage on shares of Sasol in a research note on Wednesday, June 17th. They set a “sell” rating on the stock. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Sasol Stock Down 4.5%

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 $11.49 and a two-hundred day simple moving average of $10.86.

Insider Activity at Sasol

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the completion of the transaction, the executive vice president owned 16,313 shares in the company, valued at approximately $214,352.82. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Sasol

Several hedge funds have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. purchased a new position in shares of Sasol during the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $36,000 after buying an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Sasol by 347.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Sasol during the 2nd quarter valued at approximately $52,000. Finally, Brevan Howard Capital Management LP bought a new stake in Sasol in the 3rd quarter worth approximately $63,000. Hedge funds and other 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.