Sasol (NYSE:SSL) Shares Gap Up – Should You Buy?

Sasol Ltd. (NYSE:SSL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.10, but opened at $6.28. Sasol shares last traded at $6.33, with a volume of 90,048 shares traded.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen lowered Sasol from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Morgan Stanley cut Sasol from an “overweight” rating to an “equal weight” rating in a research note on Monday, September 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, October 8th. Finally, Zacks Research cut Sasol from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 25th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Sasol Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.27. The company has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $5.94.

Hedge Funds Weigh In On Sasol

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of Sasol by 7.6% in the first quarter. American Century Companies Inc. now owns 709,675 shares of the oil and gas company’s stock valued at $3,002,000 after purchasing an additional 50,412 shares during the period. Walleye Capital LLC grew its stake in Sasol by 17.4% in the 1st quarter. Walleye Capital LLC now owns 58,116 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 8,616 shares in the last quarter. FORA Capital LLC bought a new stake in Sasol during the 1st quarter valued at $55,000. Trexquant Investment LP raised its holdings in Sasol by 368.2% during the 1st quarter. Trexquant Investment LP now owns 437,517 shares of the oil and gas company’s stock valued at $1,851,000 after acquiring an additional 344,066 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Sasol by 75.9% during the first quarter. Vident Advisory LLC now owns 71,586 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 30,896 shares in the last quarter. 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.