Insider Selling: Sasol (NYSE:SSL) EVP Sells $287,121.60 in Stock

Key Points

• Sasol EVP Vuyo Dominic Kahla sold 22,608 shares at an average price of $12.70, generating $287,121.60 and reducing his direct holdings by 16.45% to 114,792 shares.
• SSL traded near $14.29, close to its 52-week high of $15.18, while Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue.
• Analyst sentiment remains mixed but averages a “Hold” rating; meanwhile, several institutional investors increased or initiated positions, though institutions own just 1.21% of the stock.

Sasol Ltd. (NYSE:SSL - Get Free Report) EVP Vuyo Dominic Kahla sold 22,608 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $12.70, for a total transaction of $287,121.60. Following the sale, the executive vice president directly owned 114,792 shares in the company, valued at $1,457,858.40. The trade was a 16.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sasol Trading Down 0.0%

SSL stock traded down $0.01 during mid-day trading on Thursday, reaching $14.29. 1,638,992 shares of the company traded hands, compared to its average volume of 1,832,044. The company has a fifty day moving average price of $12.35 and a 200-day moving average price of $12.21. Sasol Ltd. has a 52-week low of $5.24 and a 52-week high of $15.18. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.49.

Sasol (NYSE:SSL - Get Free Report) last posted its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion for the quarter. On average, analysts anticipate that Sasol Ltd. will post 2.71 EPS for the current year.

Institutional Trading of Sasol

Hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Holding SA purchased a new position in Sasol in the first quarter worth $11,284,000. Assenagon Asset Management S.A. raised its position in Sasol by 123.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,381,209 shares of the oil and gas company's stock valued at $13,563,000 after purchasing an additional 762,796 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Sasol during the second quarter valued at about $1,084,000. Sanctuary Advisors LLC bought a new stake in Sasol during the first quarter worth about $1,231,000. Finally, Barometer Capital Management Inc. lifted its stake in Sasol by 258.7% during the first quarter. Barometer Capital Management Inc. now owns 99,000 shares of the oil and gas company's stock worth $1,283,000 after purchasing an additional 71,400 shares during the last quarter. 1.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SSL has been the topic of a number of recent analyst reports. Investec assumed coverage on Sasol in a research report on Wednesday, June 17th. They issued a "sell" rating on the stock. Zacks Research upgraded Sasol from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Weiss Ratings upgraded Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. Wall Street Zen upgraded Sasol from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 5th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Sasol in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sasol has an average rating of "Hold".

About Sasol

Sasol Limited is a South African integrated chemicals and energy company listed on the New York Stock Exchange under the symbol SSL. The company develops and commercializes technologies that convert coal and natural gas into fuels, chemicals and other value-added products, with operations and customers in South Africa and international markets.

Its portfolio includes liquid fuels, solvents, alcohols, surfactants, polymers, waxes, ammonia and other chemical products used in sectors such as mining, manufacturing, agriculture, automotive, personal care and household products.

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