Sasol (NYSE:SSL) Shares Gap Down – Should You Sell?

Sasol Ltd. (NYSE:SSL) gapped down before the market opened on Monday. The stock had previously closed at $14.83, but opened at $13.57. Sasol shares last traded at $13.7920, with a volume of 460,485 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SSL shares. Weiss Ratings upgraded Sasol from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Zacks Research raised Sasol from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wall Street Zen upgraded Sasol from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 5th. Finally, Bank of America raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Sasol Stock Performance

The business has a 50 day moving average of $14.88 and a two-hundred day moving average of $12.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.79.

Sasol (NYSE:SSL) last announced its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The firm had revenue of $4.61 billion during the quarter. On average, equities research analysts forecast that Sasol Ltd. will post 2.99 earnings per share for the current year.

Insider Buying and Selling at Sasol

In other Sasol news, EVP Sandile Lawrence Siyaya sold 2,842 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $36,093.40. Following the completion of the sale, the executive vice president owned 301 shares in the company, valued at approximately $3,822.70. The trade was a 90.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Walt Bruns sold 1,798 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $14.14, for a total transaction of $25,423.72. Following the sale, the chief financial officer owned 54,819 shares of the company’s stock, valued at $775,140.66. This trade represents a 3.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 60,412 shares of company stock worth $800,983. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sasol

Several hedge funds and other institutional investors have recently made changes to their positions in SSL. Ramsey Quantitative Systems bought a new position in Sasol in the 2nd quarter valued at about $68,000. Mather Group LLC. acquired a new position in Sasol during the 3rd quarter valued at about $83,000. Pinnacle Wealth Planning Services Inc. increased its holdings in Sasol by 16.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 7,385 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,033 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Sasol by 36.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,246 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 2,461 shares in the last quarter. Finally, Foster Group Inc. bought a new stake in Sasol during the 3rd quarter worth approximately $142,000. 1.21% of the stock is owned by institutional investors.

About Sasol

Sasol is an integrated energy and chemicals company headquartered in South Africa. Founded in 1950, it developed expertise in converting coal and natural gas into liquid fuels and chemical products, including through Fischer-Tropsch technology. The company produces and markets fuels, such as gasoline, diesel and aviation fuel, as well as a broad range of chemicals used in industries including manufacturing, agriculture and consumer goods. Its activities span energy and chemicals value chains, from feedstock processing to product marketing.