Sasol (NYSE:SSL) Shares Down 4.2% - Here's Why

Key Points

• Sasol shares fell 4.2% to about $11.21, with trading volume roughly 80% below the stock’s average daily volume.
• Analyst sentiment is mixed but leans negative: UBS upgraded Sasol to “buy,” while Zacks Research and Weiss Ratings downgraded it to “strong sell” and “sell,” respectively. MarketBeat reports an average rating of “Reduce.”
• Institutional ownership remains limited at 1.21%, though several investors increased their positions; meanwhile, an executive sold 2,182 shares in May at an average price of $13.14.

Sasol Ltd. (NYSE:SSL - Get Free Report) shares were down 4.2% on Monday . The company traded as low as $11.13 and last traded at $11.2050. Approximately 403,851 shares changed hands during trading, a decline of 80% from the average daily volume of 2,058,973 shares. The stock had previously closed at $11.70.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SSL shares. 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. reiterated a "neutral" rating on shares of Sasol in a report on Monday, June 15th. Zacks Research lowered Sasol from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Investec initiated coverage on Sasol in a research note on Wednesday, June 17th. They issued a "sell" rating for the company. Finally, Weiss Ratings lowered Sasol from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce".

Sasol Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average price is $11.49 and its 200 day moving average price is $10.86.

Insider Activity at Sasol

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $13.14, for a total value of $28,671.48. Following the completion of the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Sasol

Several large investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of Sasol by 75.7% during the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company's stock valued at $6,135,000 after purchasing an additional 624,911 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Sasol by 31.9% in the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company's stock worth $654,000 after buying an additional 37,412 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the second quarter valued at about $52,000. JPMorgan Chase & Co. boosted its position in Sasol by 7,082.0% in the second quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company's stock worth $263,000 after purchasing an additional 58,568 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 purchasing an additional 6,957 shares during the period. 1.21% of the stock is currently owned by institutional investors.

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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