Renaissance Technologies LLC Trims Position in Sasol Ltd. $SSL

Key Points

• Renaissance Technologies cut its Sasol position by 40% in the first quarter, selling 233,400 shares and retaining 350,500 shares worth approximately $4.54 million.
• Sasol shares were trading at $11.31, up 3.4%, with the stock ranging from $4.77 to $14.36 over the past year. Hedge funds and institutional investors collectively own 1.21% of the company.
• Analyst sentiment is negative: Sasol has a consensus rating of “Reduce,” with one Buy, three Hold, and three Sell ratings. An executive vice president also sold 2,182 shares at an average price of $13.14.

Renaissance Technologies LLC lowered its position in shares of Sasol Ltd. (NYSE:SSL - Free Report) by 40.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 350,500 shares of the oil and gas company's stock after selling 233,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.05% of Sasol worth $4,542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SSL. Atlas Capital Advisors Inc. acquired a new stake in shares of Sasol during the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its holdings in Sasol by 232.5% in the 4th 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 buying an additional 3,920 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Sasol by 347.3% during the 2nd 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 during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Sasol during the 2nd quarter valued at about $52,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Sasol during the 3rd quarter worth about $63,000. 1.21% of the stock is owned by hedge funds and other institutional investors.

Sasol Trading Up 3.4%

SSL opened at $11.31 on Friday. Sasol Ltd. has a 1 year low of $4.77 and a 1 year high of $14.36. The firm has a 50 day moving average price of $11.34 and a 200 day moving average price of $10.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.66 and a quick ratio of 1.09.

Insider Transactions at Sasol

In other Sasol news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $13.14, for a total transaction of $28,671.48. Following the completion of the sale, the executive vice president directly owned 16,313 shares in the company, valued at $214,352.82. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SSL. Zacks Research downgraded shares of Sasol from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Sasol from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Weiss Ratings downgraded Sasol from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Finally, Investec began coverage on Sasol in a research report on Wednesday, June 17th. They issued a "sell" rating on the stock. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Sasol has a consensus rating of "Reduce".

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.

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