Assenagon Asset Management S.A. Takes Position in Sasol Ltd. $SSL

Assenagon Asset Management S.A. bought a new position in shares of Sasol Ltd. (NYSE:SSL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 618,413 shares of the oil and gas company’s stock, valued at approximately $8,015,000.

Other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. bought a new position in shares of Sasol in the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew 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 purchasing an additional 3,920 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $40,000 after purchasing an additional 6,957 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Sasol during the second quarter worth approximately $52,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Sasol during the 3rd quarter worth approximately $63,000. 1.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Zacks Research downgraded Sasol from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Investec began coverage on Sasol in a report on Wednesday, June 17th. They set a “sell” rating for the company. Wall Street Zen cut shares of Sasol from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Sasol in a research note on Monday, June 15th. Finally, UBS Group raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Sasol Stock Performance

Sasol stock opened at $9.68 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66. The stock’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $10.09. Sasol Ltd. has a one year low of $4.30 and a one year high of $14.36.

Insider Activity at Sasol

In related news, EVP Sarushen Dhanapalan Pillay sold 2,182 shares of the firm’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 transaction, the executive vice president owned 16,313 shares in the company, valued at approximately $214,352.82. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.