Sasol (NYSE:SSL) Shares Gap Up – Here’s Why

Sasol Ltd. (NYSE:SSL) shares gapped up before the market opened on Tuesday . The stock had previously closed at $12.27, but opened at $13.08. Sasol shares last traded at $13.0950, with a volume of 152,253 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on SSL shares. Investec initiated coverage on Sasol in a research note on Wednesday, June 17th. They issued a “sell” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. UBS Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a research note on Thursday, June 4th. Finally, Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sasol presently has an average rating of “Hold”.

Sasol Stock Up 9.2%

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17. The firm’s 50-day moving average is $11.49 and its 200-day moving average is $11.78.

Sasol (NYSE:SSL) last issued its earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The business had revenue of $4.61 billion during the quarter. Sell-side analysts predict that Sasol Ltd. will post 1.65 EPS for the current year.

Institutional Investors Weigh In On Sasol

A number of large investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new stake in shares of Sasol in the 4th quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted 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 valued at $36,000 after buying an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Sasol by 347.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 6,957 shares during the period. Sivia Capital Partners LLC bought a new stake in Sasol in the 2nd quarter worth approximately $52,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Sasol in the third quarter worth $63,000. 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.