Sasol Ltd. $SSL Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management more than doubled its Sasol stake in the second quarter, purchasing 762,796 additional shares to hold 1.38 million shares valued at approximately $13.6 million.
• Other institutional investors also increased exposure to Sasol, but institutional and hedge-fund ownership remains low at 1.21% of outstanding shares.
• Sasol shares opened at $11.53, near their moving averages, while analyst sentiment remains cautious: the stock has an average “Reduce” rating, with one Buy, three Hold and three Sell ratings.

Assenagon Asset Management S.A. increased its stake in shares of Sasol Ltd. (NYSE:SSL - Free Report) by 123.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,381,209 shares of the oil and gas company's stock after buying an additional 762,796 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of Sasol worth $13,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Sasol during the 1st quarter worth approximately $1,231,000. UBS Group AG raised its position in shares of Sasol by 52.0% during the 4th quarter. UBS Group AG now owns 835,052 shares of the oil and gas company's stock worth $5,436,000 after purchasing an additional 285,807 shares during the last quarter. Pictet Asset Management Holding SA purchased a new stake in Sasol in the 1st quarter valued at approximately $11,284,000. Sivia Capital Partners LLC purchased a new stake in Sasol in the 2nd quarter valued at approximately $52,000. Finally, Barometer Capital Management Inc. grew its holdings in Sasol by 258.7% during the 1st quarter. Barometer Capital Management Inc. now owns 99,000 shares of the oil and gas company's stock valued at $1,283,000 after buying an additional 71,400 shares during the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Price Performance

Shares of SSL stock opened at $11.53 on Tuesday. The firm's 50-day simple moving average is $11.29 and its 200-day simple moving average is $11.05. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. Sasol Ltd. has a 1-year low of $4.77 and a 1-year high of $14.36.

Wall Street Analyst Weigh In

A number of analysts recently commented on SSL shares. Zacks Research cut Sasol from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Investec assumed coverage on shares of Sasol in a report on Wednesday, June 17th. They issued a "sell" rating on the stock. UBS Group raised shares of Sasol from a "neutral" rating to a "buy" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Sasol in a research report on Monday, June 15th. Finally, Weiss Ratings lowered shares of Sasol from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce".

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.

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