Sasol (NYSE:SSL) Upgraded to “Hold” at Zacks Research

Sasol (NYSE:SSL) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities analysts have also recently weighed in on SSL. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Wall Street Zen downgraded Sasol from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Investec assumed coverage on Sasol in a report on Wednesday, June 17th. They issued a “sell” rating on the stock. Weiss Ratings cut Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, UBS Group upgraded Sasol from a “neutral” rating to a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Sasol Stock Performance

SSL opened at $12.45 on Monday. Sasol has a 1-year low of $5.24 and a 1-year high of $14.36. The company’s fifty day moving average price is $11.13 and its two-hundred day moving average price is $11.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.09 and a current ratio of 1.66.

Sasol (NYSE:SSL) last issued its quarterly earnings data on Friday, August 14th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter. The business had revenue of $4.61 billion for the quarter. As a group, equities research analysts expect that Sasol will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On Sasol

Several institutional investors have recently added to or reduced their stakes in SSL. Millennium Management LLC boosted its stake in Sasol by 75.7% in the first quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock valued at $6,135,000 after acquiring an additional 624,911 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Sasol by 31.9% during the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock worth $654,000 after purchasing an additional 37,412 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Sasol in the 2nd quarter worth approximately $52,000. JPMorgan Chase & Co. raised its holdings in shares of Sasol by 7,082.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 59,395 shares of the oil and gas company’s stock worth $263,000 after purchasing an additional 58,568 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Sasol by 347.3% in 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 purchasing an additional 6,957 shares during the last quarter. Institutional investors 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.