Sasol (NYSE:SSL) Downgraded by Renaissance Capital

Sasol (NYSE:SSL) was downgraded by Renaissance Capital from a “hold” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports.

A number of other research firms have also recently weighed in on SSL. Citigroup raised shares of Sasol from a “neutral” rating to a “buy” rating in a research report on Monday, September 16th. TD Securities upped their price objective on shares of Sasol from $10.00 to $11.50 and gave the company a “buy” rating in a research report on Tuesday, November 5th. CIBC raised shares of Sasol from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $10.00 to $11.25 in a research report on Thursday, October 31st. Zacks Investment Research cut shares of Sasol from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, ValuEngine raised shares of Sasol from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.92.

NYSE:SSL traded up $0.05 on Tuesday, reaching $19.72. The stock had a trading volume of 10,872 shares, compared to its average volume of 271,775. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 1.59. The company has a 50-day moving average of $18.51 and a 200 day moving average of $22.51. Sasol has a 12-month low of $16.48 and a 12-month high of $34.03.

Several institutional investors have recently modified their holdings of the company. BBVA USA Bancshares Inc. acquired a new stake in Sasol during the third quarter worth about $902,000. Pillar Pacific Capital Management LLC increased its stake in shares of Sasol by 3.9% in the third quarter. Pillar Pacific Capital Management LLC now owns 120,643 shares of the oil and gas company’s stock valued at $2,053,000 after purchasing an additional 4,554 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Sasol by 22.9% in the third quarter. Wetherby Asset Management Inc. now owns 12,997 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 2,422 shares during the period. Lindbrook Capital LLC increased its stake in shares of Sasol by 1,145.1% in the third quarter. Lindbrook Capital LLC now owns 2,042 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,878 shares during the period. Finally, KCS Wealth Advisory increased its stake in shares of Sasol by 21.8% in the third quarter. KCS Wealth Advisory now owns 39,131 shares of the oil and gas company’s stock valued at $666,000 after purchasing an additional 7,006 shares during the period. Institutional investors and hedge funds own 2.20% of the company’s stock.

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.

Further Reading: How do CD ladders protect against rising interest rates?

The Fly

Analyst Recommendations for Sasol (NYSE:SSL)

Receive News & Ratings for Sasol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sasol and related companies with MarketBeat.com's FREE daily email newsletter.