Sasol (NYSE:SSL) Shares Gap Up – Still a Buy?

Sasol Ltd. (NYSE:SSL) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.09, but opened at $8.63. Sasol shares last traded at $8.8310, with a volume of 1,283,960 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SSL. Zacks Research raised Sasol from a “strong sell” rating to a “hold” rating in a report on Thursday, January 22nd. Wall Street Zen cut Sasol from a “strong-buy” rating to a “buy” rating in a report on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Sasol in a research note on Wednesday, January 21st. The Goldman Sachs Group cut Sasol from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Sasol in a report on Friday, January 16th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sasol presently has a consensus rating of “Reduce”.

Sasol Trading Up 10.4%

The business’s 50-day simple moving average is $6.86 and its 200 day simple moving average is $6.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.87.

Institutional Trading of Sasol

Several hedge funds and other institutional investors have recently bought and sold shares of SSL. Atlas Capital Advisors Inc. bought a new stake in Sasol during the 4th quarter valued at $35,000. Caitong International Asset Management Co. Ltd raised its holdings 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 acquiring an additional 3,920 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 valued at $40,000 after acquiring an additional 6,957 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the 2nd quarter worth $52,000. Finally, GAMMA Investing LLC lifted its position in shares of Sasol by 107.9% in the 3rd quarter. GAMMA Investing LLC now owns 8,637 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 4,482 shares during the period. 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.