Connor Clark & Lunn Investment Management Ltd. Lowers Position in Sasol Ltd. $SSL

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Sasol Ltd. by 13.5%, selling 106,597 shares in the first quarter.
• Sasol's stock price increased by 1.1%, reaching $5.75, with a market cap of approximately $3.73 billion.
• Analyst ratings for Sasol were downgraded from a "buy" to a "hold" by Wall Street Zen on May 16th.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Sasol Ltd. (NYSE:SSL - Free Report) by 13.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 685,543 shares of the oil and gas company's stock after selling 106,597 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Sasol worth $2,900,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Two Sigma Investments LP lifted its stake in Sasol by 100.7% in the fourth quarter. Two Sigma Investments LP now owns 1,054,238 shares of the oil and gas company's stock worth $4,807,000 after acquiring an additional 528,860 shares during the last quarter. Millennium Management LLC lifted its position in shares of Sasol by 2,401.8% during the 4th quarter. Millennium Management LLC now owns 825,444 shares of the oil and gas company's stock worth $3,764,000 after buying an additional 792,450 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Sasol by 119.0% in the 4th quarter. Renaissance Technologies LLC now owns 670,011 shares of the oil and gas company's stock valued at $3,055,000 after buying an additional 364,111 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Sasol by 108.8% in the 4th quarter. Two Sigma Advisers LP now owns 610,200 shares of the oil and gas company's stock valued at $2,783,000 after buying an additional 317,900 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Sasol by 45.9% in the 4th quarter. Point72 Asset Management L.P. now owns 433,100 shares of the oil and gas company's stock valued at $1,975,000 after buying an additional 136,300 shares during the last quarter. Institutional investors and hedge funds own 1.21% of the company's stock.

Sasol Stock Performance

Sasol stock traded up $0.1940 during midday trading on Tuesday, hitting $5.9740. 810,090 shares of the company's stock were exchanged, compared to its average volume of 1,187,325. Sasol Ltd. has a 12-month low of $2.78 and a 12-month high of $8.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.16 and a current ratio of 1.84. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 2.63, a price-to-earnings-growth ratio of 0.19 and a beta of 0.76. The firm's 50 day simple moving average is $5.09 and its 200 day simple moving average is $4.43.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sasol from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Sasol presently has a consensus rating of "Hold".

Sasol Company Profile

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.