Sasol (NYSE:SSL) Shares Gap Up - Time to Buy?

Key Points

• Sasol shares gapped up ahead of Thursday’s trading, opening at $12.04 after closing at $11.32 and last trading around $12.33 on above-average volume.
• Analyst sentiment remains cautious, with multiple recent rating changes leaving the stock at a consensus “Reduce” rating from MarketBeat data.
• Recent insider and institutional activity was mixed: an executive sold shares in May, while several institutional investors increased or initiated positions in the company.

Shares of Sasol Ltd. (NYSE:SSL - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $11.32, but opened at $12.04. Sasol shares last traded at $12.3270, with a volume of 223,169 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SSL shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Sasol in a research note on Monday, June 15th. Weiss Ratings raised shares of Sasol from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of Sasol from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 20th. Zacks Research cut shares of Sasol from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Finally, Investec assumed coverage on shares of Sasol in a research report on Wednesday, June 17th. They set a "sell" rating for the company. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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 business has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $10.62.

Insider Activity

In other news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the company'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 sale, the executive vice president directly owned 16,313 shares in the company, valued at $214,352.82. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SSL. Atlas Capital Advisors Inc. acquired a new stake in shares of Sasol during the 4th quarter worth about $35,000. Caitong International Asset Management Co. Ltd raised its position in shares of Sasol by 232.5% in the fourth 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 last quarter. Ramsey Quantitative Systems purchased a new position in shares of Sasol during the second quarter valued at approximately $68,000. EverSource Wealth Advisors LLC lifted its stake in shares of Sasol by 347.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,960 shares of the oil and gas company's stock valued at $40,000 after buying an additional 6,957 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Sasol by 48.9% during the first quarter. Blue Trust Inc. now owns 9,115 shares of the oil and gas company's stock valued at $118,000 after buying an additional 2,992 shares during the period. Institutional investors and hedge funds own 1.21% of the company's stock.

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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