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

Zacks Research upgraded shares of Sasol (NYSE:SSL) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks reports.

A number of other brokerages also recently commented on SSL. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sasol in a research report on Monday, June 15th. Wall Street Zen cut shares of Sasol from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Sasol from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Investec assumed coverage on Sasol in a report on Wednesday, June 17th. They set a “sell” rating for the company. Finally, UBS Group raised Sasol from a “neutral” rating to a “buy” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Sasol Stock Performance

Shares of Sasol stock opened at $12.45 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.53. Sasol has a 12-month low of $5.24 and a 12-month high of $14.36. The business’s 50 day moving average is $11.13 and its 200-day moving average is $11.57.

Sasol (NYSE:SSL) last released its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion during the quarter. On average, equities research analysts predict that Sasol will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On Sasol

Several large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of Sasol by 75.7% during the 1st quarter. Millennium Management LLC now owns 1,450,355 shares of the oil and gas company’s stock worth $6,135,000 after buying an additional 624,911 shares during the last quarter. Jane Street Group LLC grew its stake in Sasol by 31.9% in the 1st quarter. Jane Street Group LLC now owns 154,700 shares of the oil and gas company’s stock valued at $654,000 after buying an additional 37,412 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Sasol in the 2nd quarter valued at about $52,000. JPMorgan Chase & Co. raised its holdings in 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 valued at $263,000 after acquiring an additional 58,568 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 6,957 shares during the last quarter. 1.21% of the stock is owned by institutional investors.

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.