Sasol (NYSE:SSL) Shares Gap Down to $24.27

Sasol Limited (NYSE:SSL – Get Rating)’s share price gapped down prior to trading on Monday . The stock had previously closed at $24.27, but opened at $22.88. Sasol shares last traded at $22.86, with a volume of 4,311 shares traded.

SSL has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Sasol from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. The Goldman Sachs Group upgraded shares of Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, March 24th. Finally, StockNews.com began coverage on shares of Sasol in a report on Thursday, March 31st. They set a “buy” rating on the stock.

The business has a 50 day simple moving average of $23.85 and a 200-day simple moving average of $20.12. The company has a quick ratio of 0.98, a current ratio of 1.43 and a debt-to-equity ratio of 0.57.

Institutional investors and hedge funds have recently modified their holdings of the stock. OLD Mission Capital LLC boosted its position in Sasol by 54.0% during the 3rd quarter. OLD Mission Capital LLC now owns 314,644 shares of the oil and gas company’s stock worth $2,391,000 after acquiring an additional 110,344 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Sasol by 62.4% during the 2nd quarter. Wells Fargo & Company MN now owns 54,332 shares of the oil and gas company’s stock valued at $832,000 after buying an additional 20,879 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Sasol by 659.4% during the 2nd quarter. Morgan Stanley now owns 342,695 shares of the oil and gas company’s stock valued at $5,253,000 after buying an additional 297,569 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Sasol by 14.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,029 shares of the oil and gas company’s stock worth $830,000 after purchasing an additional 5,486 shares during the last quarter. Finally, Todd Asset Management LLC lifted its holdings in Sasol by 13.3% in the 3rd quarter. Todd Asset Management LLC now owns 236,820 shares of the oil and gas company’s stock worth $4,462,000 after purchasing an additional 27,800 shares during the last quarter. 1.50% of the stock is currently owned by hedge funds and other institutional investors.

About Sasol (NYSE:SSL)

Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada, and Gabon.

Further Reading