Van ECK Associates Corp Boosts Stake in Sasol Limited (SSL)

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Van ECK Associates Corp boosted its stake in Sasol Limited (NYSE:SSL) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,115 shares of the oil and gas company’s stock after purchasing an additional 2,801 shares during the period. Van ECK Associates Corp’s holdings in Sasol were worth $1,393,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Sasol during the 2nd quarter valued at about $2,895,000. Royal Bank of Canada grew its stake in Sasol by 3.7% in the 1st quarter. Royal Bank of Canada now owns 80,652 shares of the oil and gas company’s stock worth $2,746,000 after acquiring an additional 2,856 shares in the last quarter. ARGA Investment Management LP grew its stake in Sasol by 3.0% in the 2nd quarter. ARGA Investment Management LP now owns 256,750 shares of the oil and gas company’s stock worth $9,382,000 after acquiring an additional 7,550 shares in the last quarter. Liberty Mutual Group Asset Management Inc. bought a new position in Sasol in the 2nd quarter worth about $557,000. Finally, Bamco Inc. NY grew its stake in Sasol by 14.8% in the 1st quarter. Bamco Inc. NY now owns 711,981 shares of the oil and gas company’s stock worth $24,229,000 after acquiring an additional 92,027 shares in the last quarter. 2.10% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on SSL shares. ValuEngine upgraded shares of Sasol from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of Sasol from a “sell” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $43.00.

NYSE SSL opened at $36.89 on Tuesday. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.54 and a beta of 0.94. Sasol Limited has a 12-month low of $28.31 and a 12-month high of $39.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.87.

The firm also recently disclosed a semiannual dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, September 7th were paid a $0.5577 dividend. The ex-dividend date was Thursday, September 6th. This represents a dividend yield of 2.92%. Sasol’s payout ratio is currently 38.16%.

About Sasol

Sasol Limited operates as an integrated chemical and energy company in South Africa. The company operates through Mining, Exploration and Production International, Energy, Base Chemicals, and Performance Chemicals segments. It operates coal mines; and develops and manages upstream interests in oil and gas exploration and production in Mozambique, South Africa, Australia, Canada, Gabon, and Australia.

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Institutional Ownership by Quarter for Sasol (NYSE:SSL)

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