Sasol (NYSE:SSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday. The firm presently has a $41.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.15% from the stock’s previous close.
According to Zacks, “Sasol Limited is engaged in the mining and processing of coal. It also produces chemicals, explores for and refines crude oil, and manufactures fertilizers and explosives. In addition, it converts coal to petrochemicals products, such as diesel fuels and gasoline. “
Separately, ValuEngine downgraded Sasol from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Sasol presently has a consensus rating of “Buy” and a consensus price target of $41.00.
A number of institutional investors have recently bought and sold shares of the stock. TRUE Private Wealth Advisors purchased a new stake in Sasol during the 3rd quarter worth about $202,000. Aperio Group LLC increased its position in Sasol by 10.7% during the 3rd quarter. Aperio Group LLC now owns 387,515 shares of the oil and gas company’s stock worth $14,974,000 after purchasing an additional 37,578 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in Sasol during the 3rd quarter worth about $5,894,000. Atria Investments LLC purchased a new stake in Sasol during the 3rd quarter worth about $347,000. Finally, Bank of New York Mellon Corp increased its position in Sasol by 274.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,441 shares of the oil and gas company’s stock worth $5,424,000 after purchasing an additional 108,799 shares in the last quarter. Hedge funds and other institutional investors own 2.10% of the company’s stock.
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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