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

Sasol Ltd. (NYSE:SSL)’s share price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Investec began coverage on shares of Sasol in a research report on Wednesday, June 17th. They set a “sell” rating on the stock. Wall Street Zen upgraded shares of Sasol from a “hold” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Weiss Ratings raised shares of Sasol from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of Sasol from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Sasol Stock Performance

The stock’s 50 day moving average price is $11.32 and its 200 day moving average price is $11.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17.

Sasol (NYSE:SSL) last announced its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion for the quarter. Equities research analysts forecast that Sasol Ltd. will post 1.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SSL. Millennium Management LLC lifted 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 during the period. Jane Street Group LLC boosted its position in shares of Sasol by 31.9% during the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock valued at $654,000 after purchasing an additional 37,412 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Sasol during the second quarter worth approximately $52,000. JPMorgan Chase & Co. grew its stake in Sasol by 7,082.0% during the second quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock worth $263,000 after purchasing an additional 58,568 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 6,957 shares in the last quarter. 1.21% of the stock is owned by institutional investors.

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.