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

Sasol Ltd. (NYSE:SSL) gapped down prior to trading on Monday . The stock had previously closed at $7.47, but opened at $7.22. Sasol shares last traded at $7.3540, with a volume of 756,369 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SSL shares. Wall Street Zen upgraded Sasol from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sasol in a report on Wednesday, January 21st. Zacks Research upgraded Sasol from a “strong sell” rating to a “hold” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sasol has an average rating of “Reduce”.

Sasol Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87. The business’s 50 day simple moving average is $6.54 and its 200 day simple moving average is $6.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SSL. Millennium Management LLC increased its position in shares of Sasol by 75.7% during the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after purchasing an additional 624,911 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sasol by 1,627.3% during the third quarter. JPMorgan Chase & Co. now owns 1,025,934 shares of the oil and gas company’s stock worth $6,381,000 after buying an additional 966,539 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Sasol by 25.5% in the second quarter. American Century Companies Inc. now owns 890,502 shares of the oil and gas company’s stock valued at $3,936,000 after acquiring an additional 180,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Sasol by 11.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 767,312 shares of the oil and gas company’s stock worth $3,392,000 after acquiring an additional 81,769 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Sasol by 206.2% during the 2nd quarter. Bank of America Corp DE now owns 537,250 shares of the oil and gas company’s stock worth $2,375,000 after acquiring an additional 361,777 shares during the last quarter. 1.21% of the stock is owned by institutional investors.

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.